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Permanent TSB Is To Buy Some Of Ulster Bank's Assets.

File image: RollingNews

25 branches are to be transferred, including 2 in Kildare.

Permanent TSB has announced plans to buy out some of Ulster Bank's assets.

A memorandum of understanding has been signed by the two parties, which could potentially see Permanent TSB taking on performing non-tracker mortgages and SME loans.

500 Ulster Bank employees and 25 branches will transfer to Permanent TSB as part of a proposed deal

Two of those branches are in Kildare, in Kilcock and Celbridge.


Ulster Bank owners NatWest announced earlier this year it would be withdrawing from the Irish market on a phased basis.

Permanent TSB chief executive Eamonn Crowley says impacted Ulster Bank customers don't need to do anything as a result of the development:

Eamonn Crowley says he doesn't believe the State, which is a shareholder in the bank, will have to invest more funds

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