Written answers

Tuesday, 21 January 2014

Department of Finance

Banking Sector Issues

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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213. To ask the Minister for Finance his views on the early involvement of a strategic or capital market based investor for Permanent TSB as part of its long term plan to return to market ownership. [2581/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The potential involvement of a strategic or capital market based investor for Permanent TSB ("PTSB") will be considered at an appropriate time having regard to the best interests of the State. My officials and PTSB are in regular contact regarding matters such as capital structure and will consider all potential strategies in this regard. 

In the meantime PTSB continues to work to enhance the value of our investment through the continued delivery of the restructuring plan, which will, if delivered, provide the State with more optionality regarding the future structure of PTSB.  Key activities include a return to meaningful lending and material progress in resolving arrears in mortgages and commercial real estate.  

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