RBS pumps €500m into Ulster Bank

ULSTER Bank has received a fourth capital injection inside eight months, with its parent the Royal Bank of Scotland Group (RBS) pumping a further €500m into the bank.

The investment brings to €1.6 billion the amount of extra capital RBS has injected into Ulster Bank this year – its ongoing actions a direct response to Ulster Bank’s losses on bad loans.

Ulster Bank has already said that it sees its loan losses rising further and that about 0.8% of its total €58.7bn loan book was impaired as of the end of last June, up from 0.1% at the same time last year.