Ulster Bank writes to customers of its pension and investment products about closure        

There are, nonetheless, widespread concerns about the support available for customers in switching out of Ulster and KBC Bank

Ulster Bank has struck deals to transfer €7.6bn in loans to Permanent TSB and for AIB to get €3.7bn in commercial loans and €6bn in tracker mortgages.

Ulster Bank said it has started writing to customers holding pensions and other investments sold by the bank as an intermediary on behalf of Irish Life. 

The announcement marks another step as the lender prepares to exit banking in the Republic.