|
AIB Group PLC - Dublin-based bank - Acquires Irish tracker mortgage portfolio from NatWest Group PLC for €5.4 billion as state-backed lender moves towards completing its exit from Ireland. AIB says the loans were worth €5.7 billion and would add 47,000 customers to the bank. The mortgages will be administered by a third party service provider and are expected to be accretive to earnings in 2023, AIB adds.
Chief Executive Officer Colin Hunt says: ‘We are delighted to have reached agreement with NatWest and Ulster Bank on another loan book acquisition and look forward to welcoming these customers to AIB. This acquisition further adds to our growing balance sheet and progress towards our strategic targets. Our strong capital position, which is well ahead of our medium-term target of >13.5%, enables us to invest in our business, pursue RoTE accretive inorganic opportunities and make distributions to shareholders.’
Current stock price: 209.40 pence
12-month change: down 12%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
