Type Subsidiary of AIB CEO Des Moore (Dec 2013–) Parent organization AIB UK | Headquarters Belfast Founded 1991, Belfast | |
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Key people Des Moore, Head of First Trust Bank - Northern Ireland Products Various banking products Website www.firsttrustbank.co.uk/ Profiles | ||
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First Trust Bank, part of the AIB Group, is a commercial bank in Northern Ireland. It forms part of one of the Big Four banks in Ireland. The bank was created in 1991 when TSB Northern Ireland merged with the AIB Group's other interests. The bank can trace its existence back to 1816 with the founding of the Belfast Savings Bank. The bank is one of the four banks that issues Pound Sterling banknotes in Northern Ireland. Allied Irish Banks confirmed plans to sell off the bank in April 2010 as part of plans to raise capital. These plans were subsequently shelved and instead the bank announced investment plans starting in 2014.
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Banking services
Allied Irish Banks' UK division, with total assets of €15.1 billion (approx £10 billion), operates in two distinct markets, Northern Ireland and Great Britain (where it operates as Allied Irish Bank (GB)), with different economies and operating environments. AIB Group (UK) p.l.c., registered in the UK and regulated by the Financial Services Authority, operates as the legal entity for the division.
In the Northern Ireland market, the division operates under the trading name First Trust Bank from 30 full service branches throughout the region. The First Trust Bank Head Office is located in Belfast, together with the Business Services Centre. A full service is offered to business and personal customers, across the range of customer segments, including personal customers, small and medium sized enterprises, and the corporate sector. Specialist services, including mortgages, invoice discounting and asset finance are based in Belfast and delivered throughout the division (the credit/debit card operations were split in 2007, with the Card Issuing business transferred to the AIB Head Office in Dublin in 2007, and the Card Acquiring (merchant) business becoming a joint venture with First Data Merchant Services in 2009). First Trust Independent Financial Services provides sales and advice on regulated products and services, including protection, investment and pension requirements to the whole of the division.