Seeking Alpha

Sunday Times: RBS mulls merging ailing Irish unit with rival

  • RBS (RBS) is considering merging its Ulster Bank with a rival after being unable to stem the massive losses at the Irish unit or to find a buyer, the U.K.'s Sunday  Times newspaper reports.
  • Ulster Bank has generated £2.5B of losses over the past two years despite accounting for under 4% of RBS's balance sheet. In 2013, the business also racked up 20% of RBS's bad debt charges.
  • The thinking is that combining Ulster Bank with the likes of Permanent TSB or the Irish subsidiaries of Danske Bank or KBC could allow the larger company to cut costs and challenge Ireland' leading players.
From other sites
Comments (1)
  • Deepv
    , contributor
    Comments (458) | Send Message
     
    Ulcer bank!
    2 Mar 2014, 01:31 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs