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

23rd July, 2021
NatWest could take 20% PTSB stake as part €7.6bn Ulster Bank loan sale
The proposed deal will involve the transfer of up to 500 Ulster Bank employees to Permanent TSB. Picture: Sasko Lazarov/RollingNews.ie

NatWest, the UK banking group, could acquire a 20 per cent stake in Permanent TSB as part of a new deal between the institutions which would see the Irish lender buy €7.6 billion worth of UIster Bank loans.

The two institutions this morning announced a memorandum of understanding that will involve the transfer of up to 500 Ulster Bank employees, working primarily in retail and small business banking, to Permanent TSB.

Some 25 Ulster Bank branches will...

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