Who is ulster bank owned by

PTSB to buy 7. More from Reuters. Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. From the late s the bank began to establish new services and departments, such as a Foreign Department in and thrift deposit accounts in During the Second World War the bank suffered shortages and controls.

Many staff enlisted, a number of Belfast branches were extensively damaged during air raids. The bank was called upon to handle clothing coupons, national savings certificates and transactions for US troops in Belfast. In the management and capital of Ulster Bank was reorganised and a new board with defined functions and powers was appointed. During the s many branches were renovated and new ones opened. Ulster Bank became the first Irish bank to introduce cash dispensers and the bank also set up merchant banking, factoring and unit trust management subsidiaries.

More in this section. Glanbia exits dairy processing to focus on nutrition. Robotics firm expanding in Cork seeks engineers and technicians. Subscribe Now. Subscribe now. The Business Hub Newsletter. File photograph: Nick Bradshaw. Your Web Browser may be out of date. If you are using Internet Explorer 9, 10 or 11 our Audio player will not work properly. An announcement is scheduled to be made on Friday morning as the UK group, formerly known as Royal Bank of Scotland RBS , reports annual results, ending months of speculation since The Irish Times first reported last September that it was actively considering pulling out of the Irish market.

It is understood that there are a lot of moving parts even at this late stage and it remains unclear as to whether any of the discussions will be advanced enough for NatWest to refer to them on Friday. Overseas investment funds such as Cerberus and Lone Star, which have been among the most aggressive buyers of distressed loans in Ireland and Europe in recent years, are also known to be circling the Ulster Bank loan book.

Ulster Bank in the Republic has 2, employees, and while NatWest remains committed to Ulster Bank Northern Ireland , a number of its employees support the operation south of the Border.