Thursday July 9, 2020

Storm clouds gather over Irish banking outposts

Bank of Scotland (Ireland) and Ulster Bank have little to cheer, writes David Clerkin, Markets Correspondent.

28th February, 2009

Bank of Scotland (Ireland) and Ulster Bank have little to cheer, writes David Clerkin, Markets Correspondent.

As Ireland’s homegrown banks grapple with the consequences of recapitalisation or nationalisation, two British heavyweights last week announced combined write-offs of €1 billion in their Irish operations.

Bank of Scotland (Ireland), whose stricken parent HBOS was recently taken over by Lloyds TSB, suffered a €553 million hit from impaired loans in the year to December.

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