Ulster Bank required a £15 billion bailout fromduring the financial crisis, the equivalent of a third of the £45 billion that British taxpayers pumped into the wider group in 2008. Since then, Ulster Bank’s loan book has been shrunk by more than half as the lender sold off problem loans and borrowers repaid debt at a faster rate than taking on fresh credit.While Ulster Bank has convinced the Central Bank of Ireland to allow it return €3.
The near-term outlook for the sector has been further affected by Covid-19, which is expected to result in a spike of non-performing loans this year.
Source: News Formal (newsformal.com)
what is that mean for the UB customers?
Soooo what are they going to call themselves if they’re no longer in Ireland?
Terribly sad news for its employees. I’ve always found them to be the friendliest staff.