PTSB, by far the smallest of the three Irish banks, has been dogged by low profit returns since the crash. Photograph: Alan Betson/The Irish Times
PTSB’s move to put itself up for sale has stoked concerns a new owner will cut branches and jobs in the Republic’s least cost-efficient bank.
The 57 per cent State-owned bank surprised the stock market on Thursday morning by announcing it had put itself up for sale – sending its market value up 23.4 per cent in Dublin to €1.58 billion.
A deal would mark the return of all three domestic banks that survived the 2008 financial crisis to private ownership – and complete the recovery of the €29.4 billion in total that was injected into the
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