Ulster Bank: no plans to sell mortgages

• Chief executive says lender already completed sale of its last commercial loan portfolio • Ulster may pay RBS regular dividends in coming years

26th February, 2017
Ulster Bank Chief executive Gerry Mallon

Ulster Bank said it is unlikely to sell off struggling mortgage portfolios as regulators step up the pressure on all lenders to tackle non-performing loans.

Chief executive Gerry Mallon said the bank had completed the sale of its last commercial loan portfolio, which was called Project Oyster, late last year. The remaining loans that are in difficulty are mostly mortgages, which the European Central Bank and the Central Bank of Ireland want addressed.

“We don’t...

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