Permanent TSB says it still has no option but to sell thousands of home loans, despite giving out over a €1 billion in new lending.
The bank’s annual results out today show it’s increased its share of the mortgage market to almost 13%.
It also made its first profit in a decade last year, making €40 million after tax.
PTSB has caused a political controversy with its plan to offload around 18,000 distressed mortgages from its books – approximately 14,000 of which are private homes.
However, CEO Jeremy Masding says they’re still going ahead with plans to sell the mortgages in arrears.
He added: “I’m satisfied that the bank is trending in the right direction to be a seriously strong competitor in the Irish banking market.”