Ulster Bank confirms it is pulling out of Irish market after 160 years leitrimobserver.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leitrimobserver.ie Daily Mail and Mail on Sunday newspapers.
Updated / Friday, 29 Jan 2021
16:33
Ulster Bank, which is owned by NatWest Group, is conducting a strategic review of its operations in Ireland
Permanent TSB has retained investment bank Morgan Stanley to advise on a potential bid for Ulster Bank s Irish small-to medium-sized business loan portfolio if its larger rival decides to exit the market, according to a report in The Irish Times.
Ulster Bank, which is owned by NatWest Group, is conducting a strategic review of its operations in Ireland.
Citing unidentified sources, the newspaper said it was not clear how much of Ulster Bank s SME franchise PTSB would consider bidding for.
Morgan Stanley is marketing an Irish reperforming RMBS, Shamrock Residential 2021-1. The deal includes a new structural feature for the European market, which juices the yield on the portfolio by diverting a portion of principal payments to this purpose.