Further to the decision by NatWest, the parent of Ulster Bank, to exit the Irish market…
…Minister for Public Expenditure and Reform Michael McGrath has said customers ‘should not panic’, adding:
“The immediate priorities now are to ensure the staff are treated fairly and that the interests of their customers are protected.
“I welcome the fact that other Irish banks [AIB and TSB Permanant] are seriously examining the possibility of purchasing loan portfolios and other products from Ulster Bank. It is encouraging that the emphasis is being placed on engaging with institutions who can provide customers with full banking services in the Irish market.”
He added that Ulster Bank customers with tracker mortgage should be particularly careful when considering moving to another bank, as this could impact the terms they are entitled to.