Tuesday June 2, 2020

Ulster Bank IT compensation costs to increase, says CEO

Compensation from Ulster Bank’s summer IT crash will move costs over the €35 million allocated to deal with the fiasco, according to Ulster Bank's chief executive.

31st August, 2012

Compensation from Ulster Bank’s summer IT crash will move costs over and above the €35 million allocated by Royal Bank Of Scotland to deal with the fiasco, according to Jim Brown, Ulster Bank chief executive.

"We set aside a provision of €35 million euros in the second-quarter financial results,” he told RTE. “These measures will end up costing us tens of millions on top of that.”

Earlier, Ulster Bank revealed...

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