Uncertainty over Ulster Bank’s future

Uncertainty will hang over the future of Ulster Bank until the UK Treasury conducts a review in the autumn that will decide its fate.

On Wednesday night, in his annual Mansion House speech, Chancellor of the Exchequer George Osborne floated the idea of splitting Royal Bank of Scotland into a good bank/bad bank.

“We’ll look at a broad range of RBS’s assets, but particularly assets in Ulster Bank and UK commercial real estate. We’re not prepared to put more taxpayer capital into RBS as part of this process.”