The transfer of Ulster Bankâs Northern Ireland business to parent company NatWest has been approved at the High Court in Belfast.
A judge gave permission for the scheme after confirming all legal requirements were met and identifying no adverse impact on the few objectors.
Mr Justice McFarland confirmed: âI will therefore sanction the transfer scheme.â
Ulster Bank made the court application in advance of the planned May 3rd switchover date. The transfer of the Northern Ireland business to NatWest is aimed at simplifying its structures.
Customers will not see any changes to everyday services, with Ulster Bankâs branding and branch network being maintained.
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Required fields NatWest reported a drop in operating pretax profit and swung to a pretax loss for the fourth quarter of 2020, but beat market expectations The U.K. bank has decided to abandon the Irish market after reviewing its Ulster Bank business NatWest set new targets, including cutting costs during the next three years By Sabela Ojea NatWest Group PLC on Friday reported a significant fall in operating pretax profit, and said that it has begun a phased withdrawal from the Republic of Ireland. The FTSE 100-listed lender said it has conducted a review into Ulster Bank that has concluded it won t be able to generate sustainable long-term returns for its shareholders. The exit will take place over the coming years.
Provided by Dow Jones
Feb 19, 2021 8:54 AM UTC NatWest reported a drop in operating pretax profit and swung to a pretax loss for the fourth quarter of 2020, but beat market expectations The U.K. bank has decided to abandon the Irish market after reviewing its Ulster Bank business NatWest set new targets, including cutting costs during the next three years, and plans to resume dividend payouts By Sabela Ojea NatWest Group PLC on Friday said that it has begun a phased withdrawal from the Republic of Ireland, as it reported a significant fall in operating pretax profit but resumed dividend payments.
Provided by Dow Jones
Feb 19, 2021 8:27 AM UTC NatWest reported a drop in operating pretax profit and swung to a pretax loss for the fourth quarter of 2020, but beat market expectations The U.K. bank has decided to abandon the Irish market after reviewing its Ulster Bank business NatWest set new targets, including cutting costs during the next three years By Sabela Ojea NatWest Group PLC on Friday reported a significant fall in operating pretax profit, and said that it has begun a phased withdrawal from the Republic of Ireland. The FTSE 100-listed lender said it has conducted a review into Ulster Bank that has concluded it won t be able to generate sustainable long-term returns for its shareholders. The exit will take place over the coming years.
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