Permanent TSB have informed me that as per the 2013 published annual accounts, the gross book value of the commercial real estate book as at the end of 2013 is €2.1bn. The total provisions on this portfolio are €0.9bn, giving a net book value of €1.2bn. Details regarding the Springboard portfolio are not separately disclosed.
With regard to provisioning, as the Deputy will be aware, the Central Bank undertook the Balance Sheet Assessment (BSA) on a comparable basis for all covered banks in 2013 in accordance with a framework and requirements agreed with the Troika as part of the exit of the Programme. In their annual results for 2013 Permanent TSB confirmed that they had taken additional provisions on their loan portfolio as a result of the BSA and other factors.
In common with all other significant banks in the Eurozone, the Irish banks are required to undergo a Comprehensive Assessment (CA) prior to the ECB assuming responsibility as the competent supervisory authority in November this year (2014). The CA has a number of components including an Asset Quality Review (AQR) and a Stress Test. The SSM AQR is similar to the CBI BSA exercise conducted in 2013 and will therefore review provisioning of the loan portfolios you refer to.