In what was described as a monumental shift in the Irish banking landscape today, Ulster Bank has announced that it’s pulling out of Ireland.
The “withdrawal” will happen over the space of a number of years with the bank hoping to sell its loans and assets to other banks in the country.
The bank is owned by UK lender NatWest and has 1.1 million customers in Ireland with around 2,800 staff in 88 branches around the country.
Its Northern Ireland unit uses the Ulster Bank name but is not part of NatWest’s outlook for the island of Ireland and will be reviewed in time.
The bank has told is customers not to panic and that their savings are safe and any outstanding loands will be transferred or dealt with accordingly.
Tell us your thoughts in the Facebook post and share this with your friends.