Ulster Bank confirms branches are part of PTSB talks
Bank commits to support current mortgage applicants and borrowers in difficulty
Tue, Feb 23, 2021, 19:15
Ulster Bank executives confirmed on Tuesday that the bank’s 88-strong branch network in the Republic forms part of discussions with Permanent TSB, which is looking to acquire a large part of the exiting bank’s assets.
Sources said on Friday that PTSB is in talks to acquire much of Ulster Bank’s €14 billion mortgage book and up to €700 million of small business loans in a deal that could almost double its assets and potentially require a capital injection from the Government. PTSB is 75 per cent State-owned.