Union calls on Ulster Bank to clarify its position on a possible takeover

The Irish Bank Officials Association (IBOA) has called on Ulster Bank to clarify its future following a story in this newspaper about a possible takeover by a private equity firm.

“The continuing speculation about the future of Ulster Bank is sapping the morale of staff who are already concerned about the implications of a major restructuring programme that has been under discussion for the last three months,” said IBOA general secretary, Larry Broderick.

The Irish Examiner reported on Wednesday that Royal Bank of Scotland was weighing up a management-supported private equity takeover.