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

28th June, 2021
AIB to acquire €4.2 billion worth of performing business loans from Ulster Bank
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. Picture: Rollingnews.ie

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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