A Permanent link-up for Ulster and TSB?

A Permanent link-up for Ulster and TSB?
Opinion is divided over the merits of an Ulster/Permanent TSB merger. Picture: PA

The long-touted potential merger between Ulster Bank and Permanent TSB is being talked about once again but, writes Ian Guider.

If private equity firms are in the driving seat, then the long-talked-of merger of Ulster with 99 per cent state-owned Permanent TSB to create the so-called ''third force in Irish banking has fallen down the agenda.

According to sources at political level, the government would prefer a ''strong rival to AIB and Bank of Ireland, ''but there's been no pressure from RBS or the Treasury to engineer a deal now.

Proponents of the third-force argument say...

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