AIB to acquire €4.2 billion worth of performing business loans from Ulster Bank
As part of the ‘landmark’ deal, about 280 Ulster Bank employees will transfer to AIB
Allied Irish Banks has agreed to acquire €4.2 billion worth of performing business loans from Ulster Bank in what the lender has described as a “landmark” deal.
AIB this morning announced that it had entered into a “binding agreement” with NatWest, Ulster Bank’s parent company, to buy the majority of the bank’s performing corporate and commercial loan book for €4.1 billion, representing a price equivalent to 97.6 per cent of the loans’ par...
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Five key takeaways from the PTSB half-year results
The bank’s €9 million pre-tax loss for the first six months of 2021 was much less than the €30 million some had predicted, while it has grown its share of the SME and mortgage markets
State holding in PTSB to shrink to 60% due to Ulster Bank deal
As part of the €7.6 billion loan book buyout, NatWest is due a 20 per cent share in Permanent TSB, which will dilute the shareholding of other investors
NatWest could take 20% PTSB stake as part €7.6bn Ulster Bank loan sale
The proposed new deal would see the British bank become a significant shareholder in Permanent TSB, with the Irish lender also set to take over 25 Ulster Bank branches