Friday August 14, 2020

Scots’ braveheart failure

Royal Bank of Scotland owned Ulster Bank and Bank of Scotland (Ireland) have paid a high price for their overexposure to the property market

27th February, 2010

How did it come t o this?

The spectacular extent of the misadventures of Ulster Bank and Bank of Scotland (Ireland) became clear last week, as their parent companies wrote off a whopping stg£5 billion (€5.5 billion) between the min losses on Irish loans for 2009.

Royal Bank of Scotland (RBS), 84 per cent owned by the British government, shipped £2 billion in losses on loans originated by its Ulster Bank and (now defunct) First...

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