EU regulators clear bailed-out Irish lender PTSB's revamp plan

April 9, 2015 9:51 AM

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BRUSSELS, April 9 (Reuters) - European Union state aid regulators approved on Thursday Permanent TSB's restructuring plan after the bailed-out Irish lender pledged to sell low-yielding assets, raise capital and cut costs over the next three years.

The European Commission said the overhaul aimed to return 99.2 percent-state owned PTSB to profit and included a set of commitments during the restructuring period until the end of 2018.

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