Robert Troy (Longford-Westmeath, Fianna Fail)
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70. To ask the Minister for Finance his views on the future of Permanent TSB; the way it can assist in strengthening consumer choice in the Irish banking sector; and if he will make a statement on the matter. [23939/13]

Michael Noonan (Limerick City, Fine Gael)
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As I stated in response to PQ 2009/13 a way forward for Permanent TSB was agreed with the Troika in April 2012 which envisaged it playing an important role in the future of Irish retail banking, being a more focused retail bank bringing an element of competition to the marketplace which has consolidated significantly since 2008. In this regard Permanent TSB submitted a Restructuring Plan to the European Commission in June 2012. Permanent TSB has made significant progress in delivering its Restructuring Plan and has announced plans to lend €450 million for Mortgages, Personal Loans and Credit Cards in 2013, a significant increase on the €90 million lent in 2012.

I welcome the commitment to new lending by Permanent TSB which should be of assistance to the wider economy and strengthen consumer choice in the Irish banking sector.