AIB seeks to secure €6bn in tracker mortgages in Ulster Bank closure

AIB chief executive Colin Hunt said the approval by the CCPC over the commercial loans was a further “important milestone” in the bank’s development

AIB's latest plan to acquire the Ulster Bank tracker loans will also require approval from the competition watchdog. Picture: Reuter/Clodagh Kilcoyne/File Photo

AIB has extended an existing agreement and now plans to secure €6bn in performing tracker loans from Ulster Bank, which is preparing to shut its doors in the Republic.

It comes as the Competition and Consumer Protection Commission, or CCPC, on Thursday gave the green light to AIB to acquire €3.7bn in corporate and other commercial loans from Ulster.