Oireachtas Joint and Select Committees

Tuesday, 22 November 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland: Permanent TSB

2:00 pm

Photo of Rose Conway WalshRose Conway Walsh (Sinn Fein) | Oireachtas source

Many of the questions I wanted to ask have been asked and answered. We have been told that Permanent TSB is over the worst. I welcome this confidence and hope it is well placed. However, we must bear in mind that the bank failed the ECB stress test not 1 million years ago. Only six months ago in a trading statement, Permanent TSB stated it may not generate the return on equity of approximately 10% by 2018. It had flagged investors just a year ago, citing increased external risks. The share price fell 10% on the back of this statement. A note of caution is very much required. At any point in recent years, did the bank, as a serious option, look at the possibility of a merger with another bank or being subsumed into another bank?

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