Ulster is now flush enough to repay RBS

Bank has received more than €15bn of capital from parent company since 2008

7th August, 2016
Gerry Mallon, chief executive, Ulster Bank: hoping to pay dividend to RBS this year

Ulster Bank will be in a position to pay its parent company a dividend this year even as it sets aside cash to reimburse customers who were wrongly moved off tracker mortgages.

Ulster has received more than €15 billion of capital from the Royal Bank of Scotland (RBS) since 2008 to shore up its financial position.

The bank’s return to profitability means it is now in a position to begin making transfers back to RBS, according...

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