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20/06/2013
Ulster Bank Could Be Split In New Review
The Ulster Bank could be split into 'good and bad banks', according to Chancellor George Osborne.
Mr Osborne made the comments during his speech at the annual Mansion House address in London on Wednesday night.
He added that he had ordered a review into splitting up the bank's parent organisation, RBS, which will look at the assets in Ulster Bank and the UK commercial real estate.
The review will be submitted later this year and will be led by the Treasury.
In February, Ulster Bank posted a loss of more than £1bn for 2012 - an increase on the year before.
Mr Osborne said: "We will urgently investigate the case for taking the bad assets - those mistakes of the past - out of RBS.
"We'll look at a broad range of RBS's assets, but particularly assets in Ulster Bank and UK commercial real estate.
"We're not prepared to put more taxpayer capital into RBS as part of this process. We will establish a bad bank if it meets our three objectives: if it supports the British economy; if it's in the interests of taxpayers - and if it accelerates the return to private ownership.
"But if the review reveals that it would not achieve these things, then we won't do it."
(JP)
Mr Osborne made the comments during his speech at the annual Mansion House address in London on Wednesday night.
He added that he had ordered a review into splitting up the bank's parent organisation, RBS, which will look at the assets in Ulster Bank and the UK commercial real estate.
The review will be submitted later this year and will be led by the Treasury.
In February, Ulster Bank posted a loss of more than £1bn for 2012 - an increase on the year before.
Mr Osborne said: "We will urgently investigate the case for taking the bad assets - those mistakes of the past - out of RBS.
"We'll look at a broad range of RBS's assets, but particularly assets in Ulster Bank and UK commercial real estate.
"We're not prepared to put more taxpayer capital into RBS as part of this process. We will establish a bad bank if it meets our three objectives: if it supports the British economy; if it's in the interests of taxpayers - and if it accelerates the return to private ownership.
"But if the review reveals that it would not achieve these things, then we won't do it."
(JP)
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Northern Bank To Be Rebranded
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03 January 2007
Bank robbery charges dropped
The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
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The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
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Northern Ireland WeatherToday:A rather cloudy morning, with a little patchy light rain or drizzle to start. Skies clearing and becoming dry and increasingly sunny in the afternoon. Maximum temperature 13 °C.Tonight:Dry with prolonged clear spells through the evening and overnight. This will allow for some fog patches to develop in places overnight. Minimum temperature 2 °C.
