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AIB sells soured mortgages as it circles Ulster Bank loans Average balance in portfolio being sold is €300,000 and in arrears to tune of €95,000 Fri, Feb 19, 2021, 09:30 Updated: Fri, Feb 19, 2021, 09:31   AIB said on Friday that it has agreed to sell a portfolio of mainly deep-in-arrears mortgages, on the same day that it emerged that it is in talks to acquire as much as €4 billion of commercial loans from Ulster Bank, which is retreating from the Republic. The State’s largest mortgage lender is set to sell the non-performing loans (NPLs) portfolio to US investment group A...

AIB declined to comment. However, bank sources said ongoing communication with borrowers in arrears is normal and that the level of engagement with some types of borrowers including with those potentially exposed to the impact of the Covid pandemic has increased as a precaution. A source familiar with the bank's position insisted there was no plan to bundle agricultural and SME loans up for sale, and noted that all lenders have increased their efforts to spot problems among borrowers early in order to avoid a post-Covid repeat of the arrears built up after the last crash. That includes seekin...