Ptsb Chief Defends Their Policy On Repossessions


Permanent TSB’s Chief Executive has defended the bank’s repossessions policy.

It comes after the Taoiseach and several government ministers urged lenders to do more to engage with mortgage holders in difficulty.

While it was revealed 40 homes in County Wexford were repossessed last year.

Chief Executive Jeremy Masding’s response comes as the bailed-out bank announced a pre-tax loss of 48 million euro for last year – down by over 600 million on 2013.

PTSB says the number of customers in arrears of over 90 days or more fell by 8-thousand last year.

Jeremy Masding says repossessions are a last resort:

“Obviously I work for Minister Noonan, I am confident that in dialogues with him I can show him that we’re doing absolutely the right things for customers who are in arrears” he said.

“The key thing for me is that we’ve got a menu of sustainable solutions”.

“Obviously the comments were made generally about the banking system”.

“I’m confident that PTSB were doing the right thing” he added.

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