Permanent TSB to buy €7.6 billion worth of assets of the Ulster Bank business

LONDON, UK: NatWest Group plc and Ulster Bank in the Republic of Ireland have today entered into a non-binding Memorandum of Understanding (MOU) with Permanent TSB (PTSB) for the proposed sale of a perimeter comprising performing non-tracker mortgages, performing micro-SME loans, Ulster’s asset finance business and a subset of its branch locations. The proposed perimeter…