Permanent TSB goes into SME lending
Permanent TSB is to move into lending to small firms as it looks to diversify away from the mortgage business.
The move is aimed at firms with fewer than 50 employees and turnover of less than €10m.
It is the bank's first business banking foray since the crash. The lender has named Killian O'Flynn as head of business banking and he will lead the process.
Company CEO Jeremy Masding commented: "We now offer competitively priced overdrafts and loans, specifically focused on small businesses, and our intention is to expand on these services... in the coming months."