Farmers fear potential sale of loans to vulture funds as Ulster Bank exits the market

Ulster Bank has 16% of the market share in agri-customers

Ulster Bank plays a critical role in agri-lending, accounting for approximately 16% of the market share in agri-customers and is an active participant in any SBCI schemes which came on the market. File Picture. 

Farmers fear the potential sale of their loans to vulture funds following the announcement by NatWest that it is to wind down Ulster Bank in the Republic of Ireland.

Irish Farmers’ Association (IFA) president, Tim Cullinan, said the bank must commit to “not selling any of its loan book to a so-called vulture fund, but to banks that can offer a full service to customers”.