Ulster Bank announce phased withdrawal from Irish market

 

Ulster Bank has announced a phased withdrawal from the Irish market.

It will take place over a number of years, with no immediate change for customers.

Staff have been told there will be no additional compulsory redundancies this year.

There are six Ulster Bank branches across the North West - Letterkenny, Buncrana, Ballybofey, Donegal Town, Killybegs and one in Sligo.

The bank has made a non-binding agreement with AIB for the sale of 4 billion euro worth of performing commercial loans.

Ulster Bank CEO Jane Howard says they're in early discussions regarding the sale of customer's mortgages: