PTSB chief says sale price will decide how much bailout money State recoups

PTSB begins a formal sale process, with the Government poised to sell its remaining stake and recoup bailout funds

PTSB chief financial officer Barry D'Arcy and chief executive Eamonn Crowley. 

The chief executive of PTSB has said the final sale price of the bank will “determine what the State will get back” in terms of recouping the money invested following its bailout in the aftermath of the financial crisis.

On Thursday, the board of PTSB announced the start of a formal sale process, saying it was “now in the best interests” of the lender to seek a long-term buyer. The move was supported by Finance Minister Paschal Donohoe.