Conclusion of Tracker Enforcement Investigation

RNS Number : 6420A

Permanent TSB Group Holdings PLC

30 May 2019

 

30 May 2019                                                                                       

STATEMENT BY PERMANENT TSB GROUP HOLDINGS PLC (PTSBGH)

Permanent TSB plc ("PTSB" or "the Bank") is a wholly owned subsidiary of PTSBGH.

Today the Bank announces that the Central Bank of Ireland (CBI) has concluded its Enforcement Investigation in respect of Tracker Mortgages at PTSB. 

The Bank has agreed to pay a fine of €21m. This figure reflects a gross fine of €30m reduced by 30% to €21m in accordance with the early settlement discount scheme provided for in the CBI's Administrative Sanctions Procedure. This agreed settlement now brings the CBI's investigation into Tracker Mortgages at PTSB to a close.

The financial impact of this fine will be a small charge in the 2019 financial accounts as the Bank has made provisions in relation to the overall Tracker Mortgage Programme in prior years.  

Ends

For further information, please contact: 

Eamonn Crowley                                Nicola O'Brien                            Leontia Fannin                                  Ray Gordon

Chief Financial Officer                      Investor Relations                      Corporate Affairs and                     Gordon MRM

                                                                                                                    Communications

[e-mail]            Nicola.o'[e-mail]       [e-mail]       [e-mail]

[phone]                                                [phone]                              [phone]                                      [phone]    

Note on forward-looking information: 

This announcement contains forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Bank or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this announcement. The Bank undertakes no obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.

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