Good and bad loans to be split in Permanent TSB

Good and bad loans to be split in Permanent TSB

Finance Minister Michael Noonan has said new plans are in place to split up the good and bad loans in Permanent TSB (PTSB).

The loan book of the bank is to be split up – with the bad loans wound down and the good loans remaining in in a healthier, smaller bank.

Mr Noonan also said Ireland would re-enter the bond markets this summer, but he warned the government forecast for economic growth would have to be downgraded.

However, he said there would be no need for the government to bring in additional revenue raising measures.

“There is absolutely nothing on the horizon which would suggest that we will require any kind of mini-budget or anything like that,” he said.

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