THE country’s biggest mortgage lender, Irish Life and Permanent (IL&P), said arrears have risen 24% while loan losses have more than doubled.

PERMANENT TSB has agreed a deal to acquire the €650 million-plus Irish deposit book of British lender Northern Rock as it seeks to improve its stretched funding position and ensure a standalone future.

Permanent tsb bank has entered into an agreement to acquire the deposit business of Northern Rock Ireland, which currently has more than €650m of deposits from some 17,000 customers.

HOMEOWNERS with plenty of cash will be the main benefactors of a sweetener for tracker mortgage holders on offer by Permanent TSB.

The country’s largest pensions and mortgage provider Irish Life and Permanent (IL&P) has temporarily suspended its shares on the Dublin and London stock exchanges.

ANGLO Irish Bank is to sell most of its deposit book to Allied Irish Banks in a further move by the Government to wind down the institutions.

PERMANENT TSB and staff unions are at odds as to how many job losses are to result from the company’s latest restructuring plan.

ULSTER Bank has become the latest lender to hike interest rates yesterday, announcing a 0.5% increase, which will add around €60 a month to a €200,000 mortgage.

Permanent TSB has confirmed it will axe 280 jobs over the coming months.

ABOUT 80,000 householders are to be hit with higher home repayments, it has emerged.

Permanent TSB is to raise its variable interest rate by 0.5% from Tuesday, August 3, the bank announced today.

Irish Life & Permanent plc has announced plans to phase down its Irish Permanent [Isle of Man] subsidiary.

PERMANENT TSB said it would face larger problems down the line if it did not raise interest rates charged to 80,000 mortgage holders.

Permanent tsb has today confirmed that it is to hike the monthly mortgage repayments of almost 80,000 residential customers.

PERMANENT TSB is planning to cut around 120 jobs, early in the new year, and close 11 bank branches as a means of cutting further costs from the business.

Permanent TSB is axing 120 jobs and closing 11 branches, it announced today.

PERMANENT TSB has no immediate plans to increase its variable interest rates for mortgage customers — following its controversial 0.5% hike in July — but has not totally ruled out any such moves.

BANKS have effectively been given the green light to increase mortgage interest rates after Finance Minister Brian Lenihan said he will not intervene in the commercial decisions of financial institutions rescued by the State.

BANK workers who claim they were spat at by customers when news broke of a rise in interest rates by Permanent TSB have appealed to mortgage holders not to take their blame out on them.

AN Oireachtas committee will hire a banking expert to advise it on how best to grill the bosses of the country’s senior banks about their role in the financial crisis.

THE bosses of the country’s biggest banks may be summoned before an Oireachtas committee in September to answer questions about their financial health and lending practices.

Four of the country’s biggest banks united today to stress that business remained open as usual despite the economic slowdown.

THE Financial Regulator’s office has warned it will punish anyone selling investment products they know to be unsuitable for customers.