FinanceDublin.com - <b>Deals of the Year 2023: </b>Landmark deal in the reshaping of the Irish corporate banking landscape

AIB’s acquisition of Ulster Bank’s corporate banking division was unparalleled in scale and complexity for the Irish market and ensured continued access to credit and corporate banking services for Irish corporates affected by NatWest’s decision to leave the Irish market.

The AIB/Ulster deal, winner of the Financial Services Corporate Banking Deal of the Year, was one a number of major changes in the Irish banking landscape precipitated by the ongoing exits of Ulster Bank (part of NatWest) and Belgium’s KBC from the Irish banking market. It is one of the largest banking M&A transactions ever in Ireland, involving the acquisition of €4.2bn of drawn corporate loans and €2.8bn of undrawn commitments together with related staff.

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