A spokesman for the Permanent TSB has confirmed that it will pass on the ECB interest rate rise of a quarter of a percentage point to its customers on variable rate mortgages from May 18. There will be no changes to fixed rates.
The spokesman added that ECB interest rate rise of 0.25 points would automatically be passed on to customers with tracker mortgages from April 16.
State's AIB stake to rise above 90%
AIB has confirmed that the State will have a 92.8% stake in the bank following the completion of the sale of its Polish businesses to Spain's Santander.
AIB said the National Pensions Reserve Fund Commission - which holds the stake in the bank on behalf of the State - has now asked it to convert the non-voting shares it holds into ordinary shares.
These shares were issued in December when the State injected €3.7 billion into AIB. The move will mean the State's stake rising from 49.9% to 92.8%.
Last week's stress tests showed that AIB needed €13.3 billion of new capital, while the Finance Minister announced that it - combined with EBS - would be one of the two 'pillars' of a restructured banking system.
