Irish PTSB sells €348m non-performing loans to Mars Capital, allowing €2bn in fresh lending opportunities.

Irish bank PTSB has sold €348m worth of non-performing loans to Mars Capital, a credit servicing firm. The deal aims to bolster PTSB's balance sheet, freeing up resources for €2bn in fresh lending opportunities within the Irish market. The non-performing loan portfolio, consisting of 1,244 loans, will continue to be serviced by PTSB for up to six months before full transfer to Mars Capital.