Ulster Bank future up for review: 'All is not well in economy'

Concerns are mounting that up to 2,900 jobs could be lost, after a report that Ulster Bank's parent company, UK-based NatWest, was considering winding down the Irish operation. Picture: Sasko Lazarov/Rollingnews.ie

Any decision to wind down Ulster Bank in the Republic would be devastating for competition and put further power in the big two Irish lenders, senior brokers and consumer advocates have warned.

The warnings come after the revelation that Ulster Bank owner, the NatWest Group -- the London-based banking group which was until recently known as RBS, confirmed it was weighing the future of the lender in the Republic.