Thursday October 29, 2020

Donohoe to meet with Ulster Bank bosses over possible sale

Speculation is rife that the bank is preparing to close its 80-plus Irish branches, with US vulture fund Cerberus said to be eyeing its €21bn loan book

Ian Guider

Markets Editor

@ianguider
18th October, 2020
Jane Howard, chief executive of Ulster Bank, pictured leaving the Department of Finance earlier this year ahead of Francesca McDonagh of Bank of Ireland. Howard has told staff in an email not to be ‘distracted’ by media coverage of the lender. Picture: Collins

Paschal Donohoe, the Minister for Finance, is to meet bosses from Ulster Bank, amid increasing concerns its British parent company is prepared to offload its entire business in Ireland.

Donohoe will meet with Jane Howard, the bank‘s chief executive, and Ruairí O'Flynn, the bank’s new chairman, in the coming days.

The government has remained largely silent on the possible exit of Ulster Bank, the third-biggest bank in the country with...

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