Eamon Quinn: Permanent TSB joins the winners amid the great Irish banking exit

Ulster Bank's owner, NatWest, has advanced its exit plans by detailing it will transfer €7.6bn in mortgage and other loans, along with 25 of its 88 branches, to Permanent TSB

Stock markets are showing that Permanent TSB is among the winners in the great Irish banking contraction. Picture Dan Linehan

The winners in the great Irish banking contraction were the big two players, AIB and Bank of Ireland, as fierce competitors Ulster Bank and KBC prepared to close up in the Republic. 

Permanent TSB has now joined the winner's enclosure.