Banking union urges swift completion of PTSB-Ulster Bank asset deal

Permanent TSB is in talks with Ulster Bank’s parent Natwest over buying parts of Ulster’s retail lending and SME banking business arms in the Republic.

Focus now turns to PTSB's potential deal for Ulster Bank assets.

Bank workers’ representative the Financial Services Union (FSU) has urged a quick completion of Permanent TSB’s planned purchase of part of Ulster Bank’s loan book in the Republic in order to provide further certainty for Ulster’s staff and customers.

The FSU welcomed confirmation of AIB’s €4.1bn purchase of Ulster Bank’s commercial and corporate loan book in the Republic, saying it brings some certainty and clarity for “at least 280 Ulster Bank staff who will, potentially, be in scope to transfer with the loans to AIB”.