The head of Permanent TSB says the sale of more than 6,000 loans is the right outcome for customers and the bank.
The Glenbeigh Portfolio worth 1.3 billion is being transferred for 900 million euro to Pepper Ireland - an organisation that services vulture funds.
The portfolio makes up more than 6,000 non-performing loans.
Jeremy Masding is the CEO of PTSB:
File image: Jeremy Masding/RollingNews