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Jeremy Masding, Permanent TSB |
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Illustrations: Pete Ellis |
It is hard to exaggerate the swings in fortune in Irish banking over the past five years. In 2011, after one of Europe’s most severe property crashes, Ireland joined Greece and Portugal in suffering the indignity of an EU and IMF bailout. The country’s biggest retail lender, Allied Irish Banks, faced an existential challenge, “would you survive, or not?” as AIB’s chief executive Bernard Byrne describes it. Today, Ireland’s economic growth is only a couple of percentage points off that in China.
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