More losses on way for Ulster

Ulster Bank will cost RBS up to €3.2 billion in additional losses in the next quarter alone as the parent bank cleans up its balance sheet by creating an internal bad bank' for dealing with non-performing assets, according to an investor briefing by

3rd November, 2013
Ulster Bank is costing RBS up to Euro 3.2bn in losses in the next quarter. Photo: Photocall

Ulster Bank will cost RBS up to €3.2 billion in additional losses in the next quarter alone as the parent bank cleans up its balance sheet by creating an internal bad bank' for dealing with non-performing assets, according to an investor briefing by RBS chief executive Ross McEwan.

RBS is planning to accelerate the disposal of its defaulted assets, the majority of which are in Ulster Bank, over the next three years to free capital...

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