Tuesday October 20, 2020

Revealed: the true scale of Ulster Bank's loan losses

RBS has now booked impairments of £11.3 billion on non core Ulster Bank loan book

4th May, 2014
Ross McEwan, chief executive, RBS.

Royal Bank of Scotland (RBS) has booked impairment charges of £11.3 billion on the £15.5 billion in loans it transferred from Ulster Bank to its internal bad bank, new figures show.

The scale of the impairment charges, revealed in a supplementary report to RBS's first quarter results last week, underline yet again the scale of the problems within its Irish wing.

Ulster Bank transferred loans once valued at more than £15 billion to RBS Capital...

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