PTSB cleared by CCPC to acquire Ulster Bank assets

The deal includes Ulster Bank's performing non-tracker mortgage loans and a subset of Ulster Bank’s non-performing non-tracker mortgage loans 

As part of the acquisition around 400 to 450 Ulster Bank employees who have their main role within the retail, SME or asset finance businesses are entitled to transfer to Permanent TSB. Picture: Sasko Lazarov/RollingNews.ie

The Competition and Consumer Protection Commission (CCPC) has cleared the acquisition of a portfolio of Ulster Bank loans by Permanent TSB.

The portfolio consists of approximately €7.6bn of performing loans, including Ulster Bank's performing non-tracker mortgage loans, a subset of Ulster Bank’s non-performing non-tracker mortgage loans and Ulster Bank’s entire performing micro-SME business direct loan book.