2 June 2022

McCann FitzGerald LLP Advises AIB on the Purchase of Ulster Bank’s €5.7bn Portfolio of Performing Tracker Mortgages

We are advising Allied Irish Banks, p.l.c. (AIB) on its agreement to purchase the portfolio of circa 47,000 Ulster Bank customers. The acquisition will add to AIB’s growing balance sheet and progress towards its strategic targets.

The acquisition remains subject to customary regulatory approvals and is expected to complete in 2023.

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