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CCPC to investigate Permanent TSB’s proposed acquisition of certain assets of Ulster Bank | Business Post

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Competition and Consumer Protection Commission to carry out full phase two investigation into proposed acquisition by PTSB of certain assets of Ulster Bank to determine if the deal could lead to ‘substantial lessening of competition’. ellied798 reports.

PTSB last year agreed to purchase €7.6 billion of Ulster Bank assets. Picture: Sasko Lazarov/Rollingnews.ie

The Competition and Consumer Protection Commission is to carry out a full phase two investigation into the proposed acquisition by Permanent TSB of certain assets of Ulster Bank Ireland. PTSB last year agreed to purchase €7.6 billion of Ulster Bank assets which would treble the size of PTSB’s SME business overnight, expand its mortgage book by about 40 per cent and grow its branch network by a third.

 

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