google-site-verification: googlec7193c3de77668c9.html

Nat West bank continues exit from Republic of Ireland

900712b0 6161 11f0 9057 411bb960d45c.jpg

Advertisements

NatWest bank has taken another step towards ending its business in the Republic of Ireland by selling its 12% shareholding in Permanent TSB (PTSB).

PTSB is a small Irish bank which mainly focuses on mortgages.

NatWest took the stake in PTSB in 2022 as part of a wider deal which saw PTSB take over some customers of NatWest’s Ulster Bank operation.

Last month NatWest handed back the Irish banking licence which it had used to operate Ulster Bank.

The move did not impact the bank’s separate Ulster Bank business in Northern Ireland which continues to operate as normal.

The small number of remaining Ulster Bank assets in the Republic of Ireland are now being managed by a company called Ulydien DAC.

The Ulster Bank branch network in the Republic was shut down in 2023 and its loan book sold to other financial institutions.

That followed the bank’s decision in 2021 to withdraw from the Republic because its performance had not recovered from the impact of the Irish property and banking crisis.


BBC News

See also  Parking fees begin at Kilbroney and Slieve Gullion

Check Also

Londonderry: Residents evacuated after arson attack at former gym

Residents were forced to evacuate their homes after an arson attack at a derelict building …

Mayo: Eoin Doyle, 12, died in collision between car and train

Eoin was a sixth-class pupil in Cloonfad National School, and was a member of Ballyhaunis …

Emmys: NI born talent ‘thrilled’ to be nominated for a creative award

Makeup artist and hairstylist Anna Knight, from Holywood, has also been nominated for an Emmy …

Leave a Reply

Available for Amazon Prime