Oireachtas Joint and Select Committees

Thursday, 6 December 2018

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

Sale of Permanent TSB Mortgage Loans: Discussion

2:00 pm

Mr. Eamonn Crowley:

It is the full amount. The nominal amount is €1.3 billion and we have sold the portfolio at net book value. It equates to the value of the loan less the provisions the bank would put against that portfolio. It is not a valuationper se, but is rather the amount of provision the bank had put against it based on accounting rules. It was a reference point for us with regard to the price we received. That is all.

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