Citi securitizes old Irish mortgages bought from struggling PTSB

By Tom Brown
04 Mar 2021

Citi is securitizing a €300m legacy Irish portfolio of buy-to-let loans acquired from Permanent TSB, carving out the pool from a €1.1bn collection acquired last October.

PTSB is navigating stormy waters during the pandemic, announcing a €166m loss before tax on Wednesday for 2020. The month before, it booked a further €17m to cover expected losses, adding up to a €92m pile intended to patch up the bank’s projected credit holes.

The bank ...

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