Permanent TSB to set aside €1.4bn to cover mortgages in arrears28/02/2012 - 18:48:14
Permanent TSB has announced it will now have to set aside €1.4bn to cover its mortgages in arrears, an increase from €420m set aside in 2010.
The bank said the number of mortgage holders on its books who are in arrears is greater than it expected.
It said the number of its mortgages now in arrears for 90 days or more has risen to 11.5%, up from 6.8% in December 2010.
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