NatWest Group PLC said Friday that it plans to begin a withdrawal from Ireland over the coming years, after a strategic review of Ulster Bank concluded the lender wouldn't achieve sustainable long-term returns.
The U.K. bank said it has agreed to a memorandum of understanding with AIB Group PLC for the sale of a 4 billion euro ($4.84 billion) portfolio of performing commercial loans, and the transfer of staff assigned to this loan book. The potential sale remains subject to due diligence, further negotiation and agreement of final terms, as well as regulatory and other approvals, NatWest said.
The lender said it is also in early discussions with Permanent TSB Group Holdings PLC and other parties about their potential interest in buying certain retail and small-and-medium-enterprises assets, liabilities and operations.
NatWest said Ulster Bank Ltd.'s banking business in Northern Ireland is unaffected by its decision.
"Exit" - Google News
February 19, 2021 at 02:34PM
https://ift.tt/3u727p7
NatWest outlines plans for Ireland exit - MarketWatch
"Exit" - Google News
https://ift.tt/2zNkU0N
https://ift.tt/2YrnuUx
Bagikan Berita Ini
Related Posts :
Infamous Askar Mozharov, Poliana Botelho Latest to Exit UFC - Cageside Press- Crash closes I-75 northbound lanes at Selmon Expressway exit - Bay News 9
- Yandex shifts focus to ya.ru as it heads for media exit in Russia - TechCrunch
- 15,000 Russian Millionaires Are Trying To Exit The Country Amid War In Ukraine, U.K. Says - Forbes
- Tribecca 2022: Rahul Kohli Chats Ghosts, Mali Elfman’s Next Exit, And His Next ‘Intense’ Mike Flanagan Project - Forbes
0 Response to "NatWest outlines plans for Ireland exit - MarketWatch"
Post a Comment