Permanent TSB sees mortgage loans in 'robust' health despite rate hikes

generic stock news business banks A Permanent TSB branch in Dublin as the the Central Bank of Ireland has fined the institution 21 million euros.

Permanent TSB has said the quality of its mortgage and small business loans remain in “robust” financial health, despite the hefty rises in interest rates since last summer and the cost-of-living pressures bearing down on borrowers.

It comes as the smallest of the three remaining lenders in the market posted an underlying profit of €86m in the first six months of the year as net interest income surged to €298m, reflecting the rewards from higher interest rates and the closure of former formidable rivals Ulster Bank and KBC.