AIB in talks to buy 6 bln euro Ulster tracker mortgages

A normal view of an AIB (Allied Irish Financial institution) brand exterior a department of the financial institution in Galway, Eire, December 30, 2020. REUTERS/Clodagh Kilcoyne

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DUBLIN, April 29 (Reuters) – Allied Irish Banks (AIB) (AIBG.I) has entered unique talks with NatWest Group (NWG.L) to accumulate about 6 billion euros ($6.3 billion) of Irish tracker mortgage loans because the British group seems to be to finish its exit from Eire.

NatWest introduced a bit of greater than a 12 months in the past that it was winding down its underperforming Ulster Financial institution enterprise, which had a mortgage ebook amounting to about 20 billion euros. learn extra

AIB, Eire’s largest mortgage lender, stated that any potential deal for the mortgages, which monitor the European Central Financial institution rate of interest, stays topic to negotiation.

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Eire’s competitors regulator on Thursday cleared AIB’s acquisition of three.7 billion euros of economic loans from Ulster Financial institution, which can be promoting different mortgage books, branches and its asset finance enterprise to everlasting TSB . learn extra

Irish Finance Minister Paschal Donohoe welcomed the AIB announcement on Friday, saying a deal would offer a big variety of Ulster Financial institution clients with certainty on their mortgages.

($1 = 0.9492 euros)

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Reporting by Padraic Halpin
Modifying by David Goodman

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