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...
Subscribe from just €1 for the first month!
Exclusive offers:
All Digital Access + eReader
Trial
€1
Unlimited Access for 1 Month
*New subscribers only
Annual
€200
€149 For the 1st Year
Unlimited Access for 1 Year
Quarterly
€55
€42
90 Day Pass
2 Yearly
€315
€248
Unlimited Access for 2 Years
Team Pass
Get a Business Account for you and your team
Related Stories
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
The bank that liked to say yes too much
From abetting Sean Dunne’s doomed Ballsbridge project to offering 100 per cent mortgages to homebuyers, Ulster Bank racked up losses of €15 billion on its property loans. Now it is bidding farewell to 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
