Dáil Éireann Debate, Tuesday - 16 April 2013
256. Deputy Pearse Doherty asked the Minister for Finance if he is concerned that the Chief Executive Officer of Permanent TSB, in which he owns 99.5% of the shares, is now estimating a return to profitability at PTSB in five years compared to previous recent estimates which have ranged from 2014 to 2016. [16367/13]
View answerIn its restructuring plan submitted in June 2012, PTSB forecast that the retail bank Strategic Business Unit ("SBU") would be profitable on an after tax basis in 2016. Profitability for the overall group, including all three SBUs, is forecast by PTSB to take longer. As you would expect PTSB will update its forecasts on an annual basis and as a result the timelines set out above are subject to change.
