Ulster Bank may have hurt clients’ chances of turnaround

Ulster Bank may have hurt clients’ chances of turnaround

British financial watchdog finds bank ‘failed to pay sufficient regard’ to customers’ needs

Britain’s financial watchdog has found that the transfer of Ulster Bank customers in the North to its parent company’s internal bad bank could have damaged their turnaround prospects.

For the first time the Financial Conduct Authority (FCA), which has been investigating Ulster’s parent Royal Bank of Scotland’s use of its global restructuring group (GRG), has disclosed the scale of customers whose firms were put in the turnaround unit but may have suffered as...

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