What is going on at PTSB and what's the story with its mortgages?

Removal of bank’s problem loans raises questions over its continued existence

 ‘PTSB’s biggest problem – its chart-topping level of non-performing loans  – remains.’ File photograph: Alan Betson/The Irish Times

‘PTSB’s biggest problem – its chart-topping level of non-performing loans – remains.’ File photograph: Alan Betson/The Irish Times

Permanent TSB chief executive and diehard fan of his native Welsh rugby team Jeremy Masding just can’t get a decent run with the ball.

Six years into the job, Masding has consistently defied the naysayers: securing Brussels approval in early 2015 for PTSB’s restructuring plan after years of speculation that it hadn’t a hope; getting stock market investors to buy a €500 million stake in the bank the same year, months after it failed EU stress tests, and rebuilding the bank’s share of the mortgage market to about 13 per cent, from a crisis-time low of 2 per cent.

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