23rd Nov 2023 18:30
(Alliance News) - Permanent TSB Group Holdings PLC on Thursday said it was notified by the Central Bank of Ireland that it will be identified as an other systemically important institution, or O-SII, in Ireland.
The Dublin-based lender, majority-owned by the Irish government, said the O-SII designation reflects the systemic importance of Permanent TSB after recent structural changes in the Irish banking market.
"O-SIIs are institutions which are systemically important to the domestic economy or to the economy of the EU," Permanent TSB explained.
Further, an O-SII buffer of 50 basis points will be held in the form of CET1 capital from the start of 2025, the lender said.
Permanent TSB shares closed 1.5% lower at EUR1.72 each on Thursday in London.
By Tom Budszus, Alliance News slot editor
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