Its part of a deal to sell a large part of Ulster Bank loans and other assets
Ulster Bank owner Nat West may take a minority stake in Permanent TSB.
The Irish Times reports the move is part of a deal to sell a large part of Ulster Bank loans and other assets to PTSB.
PTSB is understood to be interested in about €9 billion of Ulster Bank’s 20 billion euro loan book.
Fund Manager at Davy, Aidan Donnelly, explains why Nat West may be pursuing this strategy:
PTSB aims to use ‘badwill’ accounting operation to reduce need for fresh cash for deal https://t.co/k2MYPIeSk7 via @IrishTimesBiz
— Irish Times Business (@IrishTimesBiz) June 25, 2021

Christmas Gift Caution As E-Scooters Leading Cause Of Child Brain Injuries
€540k Worth Of Ketamine Seized In Major Kildare Raid
Former GAA Referee Thomas Howard From Old Kilcullen Jailed For Indecently Assaulting His Niece
Mother Of Late Harvey Morrison Focused On Change For Children With Spina Bifida And Scoliosis
Taoiseach Seeks Details After Kfm Reported How A Newbridge Childminder May Face Commercial Rates
New Housing Plan Targets 300,000 Homes - But Lacks Annual Delivery Goals
There Has Been Another Increase In The Rate At Which Prices Are Rising According To CSO Figures
Dublin Set for Citywide 30km/h - Kildare Council Advancing Similar Speed Cuts In Estates