The bank services outsourcing company Certus has won a contract from Permanent TSB to provide loan servicing for a non-core book of commercial loans worth about €2.5 billion.
Certus was formally appointed by the bank this month following a competitive tender process.
The services to be provided by Certus include customer and loan management. Permanent TSB will continue to manage its core residential and investment loan book directly.
Certus provides managed and outsource services to some of Ireland and the UK's biggest banks, including AIB and Lloyds Banking Group.
The company said that the addition of Permanent TSB ''is a further significant step in the development and growth of Certus''. It now employs over 900 people in Dublin and in locations around Ireland and Northern Ireland.
''Permanent TSB is an important account for us as it's one of the largest banks operating in the Irish market,'' commented Joe Higgins, chief executive of Certus.
''We have significant expertise in all aspects of financial services and working in a market that is changing continuously offers Certus great opportunities to grow in the future,'' he added.