According to a report the AIB who have agreed to buy €4.1 billion of corporate loans are in negotiations to aquire an Ulster bank loan book worth €6.5 billion. Permanent TSB have reportedly confirmed that it intends to acquire 25 Ulster bank branches and €7.6 billion of mortgages and business loans. According to the report PTSB and Ulster bank are reportedly owned by NatWest, and PTSB have signed a memorandum that 400-500 Ulster bank employees transfer.