NatWest, AIB In Talks To Acquire Ulster Mortgage Portfolio

By Irene Madongo (April 29, 2022, 7:26 PM BST) -- Allied Irish Banks PLC said Friday it has entered into exclusive talks to buy the approximately €6 billion ($6.3 billion) mortgage books of Ulster Bank, which is winding down its operations in Ireland.

AIB said it is engaging with Ulster's parent NatWest Group about the deal for the performing tracker and linked mortgages, and that any potential transaction is subject to negotiations and agreement.

Paschal Donohoe, Ireland's minister for finance, said the successful conclusion of the transaction "would be very positive in providing a significant number of Ulster Bank customers with certainty as to the destination of their mortgages."

The announcement of...

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