Ulster Bank confirms exit from Irish market sparking scramble for loan books

The decision will dramatically lessen competition in the Irish banking sector and puts over 3,000 jobs at risk

Ulster Bank centre on O'Connell St in Dublin City centre. Picture: Gareth Chaney / Collins

The owner of Ulster Bank -- Britain’s NatWest Group - has confirmed it plans to wind down its operations in the Republic, a decision that will dramatically lessen competition and puts at risk around 3,000 jobs.

NatWest came to the decision after unexpectedly launching a review last year into the future of its 88 branches and €20bn in home loans and corporate lending in the Republic.