Local Ulster Bank branch among those transferring to Permanent TSB

Photo from Google Maps

25 Ulster Bank branches, including Thurles, will transfer to Permanent TSB as part of a proposed deal between the two banks.

500 Ulster Bank employees across the country will be affected, after the two banks signed a memorandum of understanding which would see Permanent TSB potentially acquire some of Ulster Bank’s assets.

The €7.6 billion deal includes performing non-tracker mortgages as well as a number of business loans.

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.