Ian Guider: Had it stayed the course, Ulster Bank would be enjoying bumper profits

As AIB and Bank of Ireland look set for years of record profitability, is the ‘toxic bank’ regretting its decision to cut and run?

Ulster Bank was embedded across the island, in every major town and city. It was steeped in Irish history, opening its doors 180 years ago

It was the middle of 2009 when the obscure documents began landing with increasing regularity at the Companies Registration Office.

They were short, just a couple of pages long, and to anyone not examining them closely enough they were innocuous and would go overlooked. What they contained was the slow and costly bailout of Ulster Bank by its grandly named owner, the Royal Bank of Scotland (RBS).

The sums ranged from a few hundred million ...