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PTSB completes acquisition of Ulster Bank’s €165m micro-SME loan book

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Deal part of a broader transaction which included transfer of €5.2bn performing non-tracker residential mortgages

The loan book acquired currently comprises loans with a value of €165 million. Permanent TSB’s business lending will increase in size by 200 per cent when incorporating the SME loans and the established asset finance business being acquired.

Permanent TSB will write to the customers connected to the migrating loan book in the coming weeks to provide them with comprehensive information about the transfer. Permanent TSB has also updated its customer hub to support customers.

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