Wednesday 21 August 2019

PTSB boss Masding buys shares in lender

Jeremy Masding has acquired shares in Permanent TSB
Jeremy Masding has acquired shares in Permanent TSB
Ellie Donnelly

Ellie Donnelly

The chief executive of Permanent TSB, Jeremy Masding, has purchased shares in the group, alongside the bank's chairman, Robert Elliott.

This is the first share acquisition by any director of the bank since the financial crisis, and marks a note of confidence in the State-backed group.

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Mr Masding spent £14,850 (€16,300) buying 13,611 shares, at a price of £1.09104 each. Meanwhile, Mr Elliott paid €19,800 on 16,500 shares.

PTSB reported profit before tax and exceptionals of €42m for the six months to June 30, a 42pc fall year-on-year.

Profits were whittled down by exceptionals, including €14m in respect of its restructuring programme, and a €3m charge related to its €21m fine from the Central Bank's investigation into the tracker mortgage scandal. New lending was up €700m - rising 22pc year-on-year.

Irish Independent

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