Wednesday April 1, 2020

Ulster Bank to cut as many as 1,800 jobs and close 63 branches

UPDATE: Royal Bank of Scotland Group expects its Ulster Bank unit, which has cost £14.3 billion to rescue, will return to profit by 2016 as the Irish lender eliminates jobs and closes branches.

2nd July, 2013
Ulster Bank headquarters.

Ulster Bank is to cut as many as 1,800 jobs as part of a cost cutting plan to return it to profitability.

Parent company Royal Bank of Scotland Group expects Ulster Bank unit, which has cost £14.3 billion (€16.7 billion) to rescue, to return to profit by 2016.

RBS forecasts that the core Ulster Bank operation will reach break-even by the end of 2014 after closing as many 63 branches, according to a presentation to analysts published...

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