Looming banking crisis over jobs and competition as Ulster Bank owner set to decide its future 

Oireachtas Finance Committee said that in the absence of Ulster engaging, it may consider recommending legislation against the bank selling loans to vulture funds

Chair of the Oireachtas Finance Committee John McGuinness  told the Irish Examiner the potential winding down of Ulster Bank had put legislators and regulators between "a rock and a hard place". Picture: Leah Farrell 

A banking crisis involving the loss of hundreds of jobs and the prospects of even less competition in Irish banking is looming, as Ulster Bank appears set to pull out of the market.     

It is widely feared by TDs and unions that the bank's owner, Britain's NatWest, will announce on Friday plans to sell off Ulster's €20.5bn worth of mortgage and corporate loans in the Republic, after doing little to dampen speculation after setting up a review into the lender's future around five months ago.