Thursday 27 October 2016

Ulster-PTSB deal considered


Top officials here and in Britain held talks on possibly merging Permanent TSB and Ulster Bank as recently as last June, official documents show.

A potential merger of UK state-controlled Ulster Bank and Irish Government-owned Permanent TSB was discussed between the Department of Finance, the UK Treasury and Royal Bank of Scotland.

The deal didn't go ahead, with owners opting to keep both banks as standalone lenders.

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