Competition watchdog highlights 'key' probes into Irish banks

Plans by AIB, Bank of Ireland, and Permanent TSB to acquire billions worth of loans from the departing Ulster Bank and KBC are under investigation

As recently as New Year's Eve, the watchdog launched a Phase 2 investigation into plans revealed by AIB earlier in 2021 to take €4.2bn in loans from Ulster Bank.

The competition watchdog has signalled the importance of a number of full-scale investigations it is conducting into Irish banking, which include plans by the largest lenders AIB, Bank of Ireland, and Permanent TSB to acquire billions worth of loans from the departing Ulster Bank and KBC which are seeking to complete their withdrawal from the Republic this year. 

In its annual report, the Competition and Consumer Protection Commission (CCPC) said three of the five active full probes, officially called Phase 2 investigations, it ordered last year relate to plans by banks.