Ulster Bank customers unaffected as AIB to acquire loans for €4.2bn

Approximately 280 employees who are directly involved in the servicing of the loan book will transfer to AIB

The deal remains subject to regulatory approvals which are likely to take a number of months.

AIB has agreed terms with Ulster Bank and its parent bank NatWest to acquire its €4.2bn commercial and corporate loan book. 

The deal will see the pillar bank pay the equivalent to 97.63% of par value for the book with the loans and associated staff migrating to AIB over the next 12 to 18 months.