Ulster Bank stress tests due in fortnight

It is believed that the consulting firm Blackrock International will complete its stress testing of Ulster Bank’s loan books within two weeks, which is part of the British government’s review of Royal Bank of Scotland.

In June, British chancellor George Osborne announced he would look at splitting RBS into a good bank/bad bank with Ulster Bank potentially placed in the latter category.

The British government became 81% owner of RBS following a £40bn (€62bn) bailout of the bank in Oct 2008. Osborne last month announced he had hired Blackrock and investment bank Rothschilds to undertake the review of RBS.