Permanent TSB Group Holdings plc, formerly Irish Life and Permanent plc is a provider of personal financial services in Ireland.It was a mutual organisation, jointly owned by those saving and borrowing. It demutualised to form a plc on 21 September 1994. Irish Permanent was a predominantly personal banking and mortgage company and in 2001 acquired the Irish Trustee Savings Bank from the Government of Ireland.During the Irish banking crisis the group was split. The profitable Irish Life Group was purchased by the government for €1.3 billion, and subsequently sold to Great-west Lifeco in July 2013.