Oireachtas Joint and Select Committees

Thursday, 22 March 2018

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

Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB

9:30 am

Mr. Eamonn Crowley:

We have to take it all together because there is the impact on either a profit or a loss. We are at an early stage in the process. The numbers are unknown. As there is a capital release, we have to take everything into account. We require a minimum level of capital to develop our business on an ongoing basis. We have capital tied up in the portfolio which produces very little in return.

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