Ulster Bank in fresh redress probe

Ulster Bank has set aside a further €39m in redress cost provisions to cover what it calls “errors” concerning its personal and commercial loan books.

Chief executive Gerry Mallon said it is “too early to say” how many customers might be affected, and refused to elaborate on the exact nature of the problem.

The latest loan ‘error’ follows on from Ulster Bank setting aside €211m in compensation for customers wrongly denied tracker mortgages and was actually discovered when the bank was investigating the scale of its role in the industry-wide tracker redress programme.