Irish Life and permanent and PTSB – may be really in trouble

Irish Life and Permanent

Permanent TSB has a €35 billion residential mortgage loan book. Property prices have fallen to 50% from 2006/7 peak and are back at 2001 levels. 2009 impaired loans €828 million. Impaired loan book provision is 1.2% which is better than the 0.3% up to December 2008 but still ridiculous.

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