Ulster Bank may negotiate equity stakes with developers

Ulster Bank may take equity stakes in property development projects it has funded if developers do not have the cash to service the loans they took out, according to the bank’s chief executive.

9th August, 2008

Ulster Bank may take equity stakes in property development projects it has funded if developers do not have the cash to service the loans they took out, according to the bank’s chief executive.

Speaking after Ulster reported half-year profits of €486 million last week, Cormac McCarthy told The Sunday Business Post that the bank was open to negotiating deals with stressed developers ‘‘in certain cases’’, if the current standoff in the property market...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago