PTSB to be called before finance committee

Permanent TSB is to be called before the Oireachtas finance committee to answer questions on the potential sale of 18,000 loans to vulture funds.

Finance Minister Paschal Donohoe has said he “cannot influence” banks or ask them to hold off on selling distressed loans until after the Government reviews the current status of unregulated vulture funds now operating in Ireland.

Appearing before the finance committee, Mr Donohoe said it is vital that PTSB reduce the number of non-performing loans (NPLs) on its books by selling 18,000 mortgages, including 14,000 relating to private homes.