Tuesday March 31, 2020

Ignorant analysis drives British take on Ulster Bank

So the British media have finally discovered Ulster Bank, which made a lot of costly mistakes lending British capital to Irish borrowers. Well, boo hoo, writes Jon Ihle.

10th June, 2013
Jon Ihle "This is how cross-border banking works: money from one place flows to another; sometimes profits flow back, sometimes they don’t."

So the British media have finally discovered Ulster Bank.

The lender is the third-largest bank in Ireland and a wholly-owned subsidiary of Royal Bank of Scotland, the global financial institution the British government rescued in a series of bail-outs totalling £45 billion (€52.9 billion). Ulster Bank got about one-third of that in successive recapitalisations as it booked huge losses, mostly on property loans.

Now the Times is shocked - shocked! - to report that Ulster...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 3 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago