Banking services firm Certus are the favourites to be awarded the contract to manage Permanent TSB’s €2 billion commercial loan book.
The bank began inviting tenders for the contract last week.
According to The Irish Times, the loan book comprises borrowings linked to office, retail and industrial developments.
A small number of PTSB staff who work on the management of the loans are expected to transfer to the new loan service company under the Transfer of Undertakings (Protection of Employment) regulations.
Certus currently carry out works for other Irish banks including IBRC and AIB.
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