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Ulster Bank announces phased withdrawal from Irish market

Feb 19, 2021 07:02 By News Northern Sound
Ulster Bank announces phased withdrawal from Irish market Ulster Bank announces phased withdrawal from Irish market
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Ulster Bank has announced a phased withdrawal from the Irish market. The wind down will take place over a number of years, with no immediate

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

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

The bank has four branches in the region, in Cavan town, Monaghan town, Ballyconnell and Ballyjamesduff.

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In a statement, Ulster Bank says it's made a non-binding agreement with AIB for the sale of 4 billion euro worth of performing commercial loans.

It added that there’ll be no compulsory redundancies this year.

The bank is also in early discussions with Permanent TSB regarding other parts of the business.

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