Ulster Bank would be under state control in British rescue

ROYAL Bank of Scotland Group, the owner of Ulster Bank, and Lloyds, is facing nationalisation as the deteriorating British economy continues to push it deeper into the mire.

It that happens, Ulster Bank, a subsidiary of RBS, with operations across the island of Ireland will be the second bank to become state-owned following the recent nationalisation of Anglo Irish Bank.

The British government would become the new owners of Ulster.