Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I welcome Mr. Masding and his colleagues from Permanent TSB. I acknowledge members have received the information they sought, which must be welcomed. I thank the witnesses in that regard. Regrettably, the first question I must ask of Mr. Masding is whether the bank has a viable future. Its arrears rate is quite high and it has quite a high mortgage tracker element to its book. Moreover, I understand that SME lending is not a core part of its business. I welcome Permanent TSB's new initiative in respect of current accounts and that it has got approximately 30,000 such accounts in recent months. However, has the bank a viable future? What is the status of the restructuring plan, which has been submitted to the European Commission?