Ireland's PTSB was cleared by regulators on Friday to resume dividend payments for the first time since 2008, a decision the majority state-owned bank said was a "landmark" moment that would enhance its investment case. Shares in the lender rose 5.7% after the Irish central bank removed the so-called dividend blocker introduced in 2016 as part of the bank's post-financial crisis rescue plan. "It reflects the fact that PTSB now occupies a key position in the Irish banking landscape, and it significantly enhances the investment case for existing and potential investors in the bank."
Ireland's Finance Ministry and Britain's NatWest Group said on Friday they had jointly sold 54.6 million shares in Permanent TSB representing 10% of the Irish bank's share capital. The Irish state will continue to hold 57.4% of PTSB while NatWest will retain a 11.7% stake. PTSB, the smallest of the three domestically owned banks that survived Ireland's financial crash a decade ago, was effectively nationalised in 2011.
LONDON/DUBLIN (Reuters) -Ireland's finance ministry and British lender NatWest Group said on Thursday they would together sell 6% of Irish bank Permanent TSB, the first sale of shares in the lender by the Irish state since 2015. The finance ministry will continue to hold about 59.4% of PTSB, the country's third largest mortgage lender, after the share sale, while NatWest will retain 13.6%. PTSB, the smallest of the three domestically owned banks that survived Ireland's financial crash a decade ago, was effectively nationalised in 2011.