Permanent TSB has reported an annual loss of €424m.
The bank set aside €1.4bn to provide for losses on mortgage loans, which were more than three times higher than in 2010.
The State-controlled bank had issued a statement in February warning about the record losses.
PTSB is also in the process of being separated from life assurance company Irish Life, which was bought by the Government having failed to find a private sector buyer.
Whether the banking arm has a future following that separation will be decided in negotiations between the Government and the European Union, the International Monetary Fund and European Central Bank troika between now and the end of the month.
