RBS to study merger options for Ulster Bank
Ulster Bank, which is the biggest bank in Northern Ireland and the third largest in the Republic, has racked up losses of £2.5 billion (€3bn) over the past two years. It accounts for less than 4% of RBS’s assets but was responsible for 20% of its bad debt charges last year.
“We think there may be further consolidation in the market. We’re looking to see if Ulster Bank can play a part in that,” Jim Brown said in a newspaper interview.