Ulster Bank | Business Post

CCPC calls for Central Bank competition mandate

Commission tells Department of Finance such a move would represent a significant expansion of the regulator’s remit, which currently includes ensuring the stability of the financial sector and a consumer protection role

Company Watch: McDonagh strikes a defiant note as she departs the stage

Bank of Ireland’s outgoing chief executive was last week keen to stress the independence of the bank’s decision-making in the current turbulent climate, but it is trailing rival AIB when it comes to acquiring accounts of migrating customers

Majority of Ulster Bank and KBC customers yet to switch accounts

Consumer watchdog warned of negative consequences to delayed current account switching, such as loan repayment arrears, security risks and a negative personal credit rating

Labour’s Nash calls for grace on missed payments during bank switchovers

The Labour Party’s finance spokesman says anomalies should not be reported to CCR for ‘three or four months’, to give leeway for errors and delays

Donohoe asked to consider subsidies to keep bank branches open

The Minister for Finance last month chaired a discussion in Tullamore, Co Offaly on the future of retail banking in Ireland, at which the suggestion was made by participants

Permanent TSB to raise fees for business customers

The changes will result in some fees being more than doubled for business current account holders

Permanent TSB may not have conditions imposed on acquisition of Ulster Bank assets

PTSB awaiting approval from the competition watchdog before deal to acquire billions of euro of Ulster Bank assets can conclude

Makhlouf: Banks’ exit could signal ‘rightsizing’ of retail banking market

The Central Bank governor awaits review of sector but sees no signs the market is too small following departure of KBC and Ulster Bank

Missed payments from bank switches should not affect customers’ credit histories, says Kissane

The financial adviser insists customer payments missed as a result of the exit of Ulster Bank or KBC must not be recorded on credit register

The big switch: As hundreds of thousands move their bank accounts, just what could go wrong?

With KBC and Ulster Bank leaving the Irish market, their customers are in the process of switching accounts to other banks which are advertising for their business. But plenty of pitfalls lie in wait for the unwary

Financial Services Union calls on regulator to extend timeline of KBC/Ulster Bank withdrawal

Concerns voiced for welfare of staff due to workload caused by account switches

Bank bosses warned account switch mustn’t affect customer credit ratings

Central Bank met executives to find ways to avoid borrowers missing payments on loans when transferring accounts from KBC or Ulster Bank

CCPC to investigate Permanent TSB’s proposed acquisition of certain assets of Ulster Bank

Competition and Consumer Protection Commission to determine if the deal could lead to ‘a substantial lessening of competition’ in the country

Ian Guider: The state is staying silent as two banks prepare to shut up shop

The withdrawals of Ulster Bank and KBC Bank are close at hand, but the Department of Finance and the Central Bank are conspicuous by their silence on the seismic changes in the sector. Why?

CBI warns of intervention if banks mishandle KBC and Ulster accounts transfers

Up to a million customers will be switching accounts as a result of the two lenders leaving the Irish market later this year

Irish banks ‘hit harder’ by Covid than others in Europe

Study analysing financial performance of 123 banks across Europe found Irish banks had negative return on equity significantly below the European average

Doomed to fail: Irish investors speak out on the cost of Ulster Bank’s British pub deals

At the height of the Celtic Tiger, Ulster Bank marketed investment vehicles concerning English pubs that were being offloaded by their owner. But things soon went badly wrong, and the burned Irish investors are still grappling with the consequences years later

Consumer watchdog to launch full investigation into AIB-Ulster Bank loan deal

AIB agreed to acquire €4.2 billion worth of performing business loans from Ulster Bank in June

The twelve deals of the year

In a year that saw many Irish businesses forced to reinvent themselves or even close, the flow of deals kept coming, as these 12 transactions show

And then there were three: core banks look to the future after an eventful 2021

From the departures of Ulster Bank and KBC to the opportunistic acquisition of Davy Stockbrokers by Bank of Ireland, it was a year of twists and turns in the Irish banking sector