DUBLIN, Aug 19 (Reuters) - Ireland’s permanent tsb is sticking to its forecast to return to profitability across its businesses by 2017, the bank’s chief executive said on Tuesday.
The state-owned mortgage lender cut its first-half underlying loss by 62 percent year-on-year to 171 million euros ($228 million) after impairment charges on loans fell by two-thirds.
“I don’t like to get ahead of myself. Today is a major step in the right direction but we’re still loss-making and heavily loss-making,” Chief Executive Jeremy Masding told a news conference.
“I think I’ll still stick to 2017 and if we over-deliver, I‘m sure the minister and the taxpayer will be delighted.” (1 US dollar = 0.7493 euro) (Reporting by Padraic Halpin; editing by Keiron Henderson)