Ulster Bank begins exit from Irish banking market after 160 years
AIB and Permanent TSB in talks to acquire some Ulster loan portfolios
The carve up of Ulster Bank has begun with AIB and Permanent TSB lining up the purchase of parts of its loan book, as NatWest signalled its withdrawal from the banking market in the Republic of Ireland.
NatWest said that following a strategic review of Ulster Bank in the last number of months it believed the bank would not be in a position to achieve an acceptable level of sustainable returns.
While NatWest said in...
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Aidan Regan: We need to break down banking borders to attract the competition here
If the Balkanised nature of national banking is removed with the creation of an integrated European system, competitive banks will be incentivised to enter the Irish market
Ulster Bank’s exit means idea of a third banking force must be put back on the table
The state needs to turn from silent owner to activist shareholder and support PTSB in acquiring Ulster Bank as a single entity
Permanent TSB may require €500 million from state to take on Ulster Bank loans
Minister for Finance claims that a beefed up Permanent TSB would prevent a duopoly of AIB and Bank of Ireland emerging