AIB expects to clinch deal in Ulster Bank loans carve-up

AIB and Permanent TSB are set to play big roles in the acquisition of the €20bn in Ulster Bank's loan books. Picture: Dan Linehan

AIB chief executive Colin Hunt said the bank is making progress in a deal that will see it participate in the carve-up of Ulster Bank, as it posted a net loss of €741m for 2020, reflecting a high level of charges for expected loan losses in the Covid-hit year.

It was revealed last month the Government had marshalled its State-owned banks, AIB and Permanent TSB, to play big roles in the acquisition of the €20bn in Ulster Bank's loan books, after the lender said it was exiting the banking market in the Republic.