Q: What is the scale of Ulster Bank’s operations in this market?
A: The bank is number three in this market. It has loans outstanding of €20.5bn in June this year.
There are some €22bn of deposits, according to a banking analyst with Goodbody Stockbrokers, Eamonn Hughes.
He says the bank is the number three in the SME (small and medium sized enterprises) market, with a market share of around 20pc, and it has a strong corporate banking franchise. A lot of this is made up of commercial property lending.
Q: I have a mortgage with Ulster Bank. It is a tracker with a current net rate of 1.15pc. Will it be sold on to a vulture fund?
Q: I have a mortgage with Ulster Bank. It is a tracker with a current net rate of 1.15pc. Will it be sold on to a vulture fund?
A: Any decision to close the bank would mean there will be a wind-down over a number of years. But it would mean your mortgage would, in all likelihood, will be sold on. A fund is highly likely to be the buyer, although rival banks such as AIB and Bank of Ireland might try to cherry pick the more profitable of Ulster Bank’s mortgages for themselves. Regardless of which institution takes over the mortgage you will retain consumer protections.
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