IN BRIEF: Permanent TSB To Sell Loan Account Portfolio To Citibank

Permanent TSB Group Holdings PLC - Dublin-based personal and small business bank - Will sell a ...

Alliance News 27 October, 2020 | 4:08PM
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Permanent TSB Group Holdings PLC - Dublin-based personal and small business bank - Will sell a portfolio of performing Buy-To-Let originated loan accounts to Citibank NA London, which is part of US investment bank Citigroup Inc for an undisclosed sum.

The portfolio comprises 3,700 BTL loan accounts, and has a gross balance sheet value of EUR1.4 billion, and net book value of EUR1.2 billion. For 2019, the portfolio generated EUR15 million in gross interest income, and EUR2 million in operating profit.

Current stock price: EUR0.50

Year-to-date change: down 55%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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