Ulster Bank's owner sets out timelines for its loan transfers to AIB and Permanent TSB

NatWest says it has started transferring some of €4.2bn in Ulster commercial loans, and a further €2.8bn of commercial loans that have not been drawn down

The timelines for the transfer of Ulster Bank Ireland’s business are laid out in NatWest’s latest earnings statement covering the three months to the end of September. File picture: Brian Lawless

Ulster Bank-owner NatWest expects to have completed the transfer of billions of euro in loans in the first half of the next year, as it disclosed a loss of €652m in the quarter linked to the exit plans from the Republic.

The timelines of NatWest’s deal-making with AIB and Permanent TSB — over both mortgages and commercial loans — were laid out in the banking group’s latest earnings statement covering the three months to the end of September.