Ulster Bank told to slash one-third of its cost base

Royal Bank of Scotland (RBS) has ordered its Ulster Bank subsidiary to strip out up to €250 million in costs - representing one third of its cost base - within three years.

27th February, 2010

Royal Bank of Scotland (RBS) has ordered its Ulster Bank subsidiary to strip out up to €250 million in costs - representing one third of its cost base - within three years.

RBS, which revealed last week that it had written off stg£2 billion (€2.2 billion) last year in losses on loans originated by Ulster, has set a target for its Irish subsidiary of reducing its cost income ratio, a key measure of operational efficiency,...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

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