Shannon’s Ulster Bank branch will transfer to Permanent TSB as part of a proposed deal between the two banks.
The two banks have signed a memorandum of understanding which would see Permanent TSB potentially acquire some of Ulster Bank’s assets – in a 7.6 billion euro deal.
They include performing non-tracker mortgages as well as a number of business loans.
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Permanent TSB chief executive Eamonn Crowley says he doesn’t believe the State, which is a shareholder in the bank, will have to invest more funds.
