'Sad day' for Ulster Bank staff and Irish bank industry

The Minister for Finance said today is a difficult day from an Irish banking perspective and also for the Ulster Bank staff who are receiving news of the bank's exit from the Irish market.

"The decision by NatWest, the parent of Ulster Bank, to exit the Irish market is a very significant event. After 160 years serving the Irish public, today marks a sad day," Mr Donohoe said. The Minister also reassured Ulster Bank customers that "robust" consumer protections are in place in the event of the bank withdrawing from the Irish market.

"The commitment to engage with staff to minimise the impact on them is also to be welcomed - I expect that Ulster Bank will fully engage with staff in an open and transparent manner as the process moves forward," he added.

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