Ulster Bank to pay €800m to owner NatWest as part of withdrawal from Irish market

Post dividend, Ulster Bank said they will keep a strong capital position, with a CET 1 ratio of 30%

Last month, Ulster Bank announced a further 800 redundancies as it prepares to leave the Irish market. Photo: Collins Photos

Ulster Bank has said it will pay a dividend of €800m to its parent company NatWest as a consequence of the bank's withdrawal from the Irish market.

Declaring the payment on the stock exchange this morning, Ulster Bank said that following the dividend, it will remain in a strong capital position, reporting a CET1 ratio in excess of 30%, well above the minimum requirement of 4.5%.