AIB agrees to purchase Ulster Bank's Irish loans

The bank said about 280 Ulster Bank workers, who are directly involved in the servicing of the loan book will transfer to AIB, the final number of roles will be confirmed as the deal completes.AIB's chief executive Colin Hunt described the deal as a "landmark" that will allow the bank to progress its plans to grow.

"The acquisition of Ulster Bank's €4.2bn corporate and commercial loan book will further underpin the bank's ambitious growth plans and position us to support the business community and Ireland's economic recovery as we emerge from the pandemic," he said. "We continue to deliver on the strategy we announced last December to enhance and diversify our revenue streams and ensure AIB's long-term sustainability.

"We look forward to welcoming new colleagues from Ulster Bank and working with our new customers as they transition to AIB."

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