# Ulster Bank & Irish Deposit Guarantee



## taytoman (24 Nov 2011)

Any views on ulster bank & deposit safety? 

It is a strange entity- subsidary of RBS effectively owned by UK Government, but loss making & guaranteed by the irish government...


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## TheJackal (24 Nov 2011)

UB are like many other banks operating in Ireland at present. 

They are making Operating Profits (€400m in 2010), 
but this is offset by impairment losses (€1,161m in 2010), 
leading to overall Operating Losses (€761m in 2010)

[broken link removed]

(see page 32)

The Q3 2011 results were

Operating Profits (€272m to 30 Sep 2011), 
but this is offset by impairment losses (€1,057m to 30 Sep 2011), 
leading to overall Operating Losses (€785m to 30 Sep 2011)

[broken link removed]

(see page 35)


The good news in that UB are backed up by RBS Group.

Realistically, imo, the worst that could happen is RBS Group decide to offload UB/ the leave the Irish market. 

In this case, they would follow along the lines of Halifax's exit a while ago.


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## the-madman (24 Nov 2011)

As Jackal mentioned the worst that can happen to savings is they pull out of Ireland and leave us alone dealing with the left over banks.

UB savings are covered up to 100k by the Deposit Guarantee Scheme but *not *by the unlimited Government Guarantee. 
http://www.nca.ie/nca/guaranteeschemes


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## horusd (24 Nov 2011)

RBS is not exactly the most secure bank either. It's share price has collapsed in recent months.


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## kev53 (13 Dec 2011)

Has UB now been excluded from the 100k  Deposit Guarantee Scheme?? What are implications for deposits? 

Apologies, the news heading is mis-leading, I believe this is about historic events:
http://www.independent.ie/business/...r-bank-after-guarantee-exclusion-2961363.html


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## Gringo (13 Dec 2011)

TheJackal said:


> The good news in that UB are backed up by RBS Group.



RBS are not in good shape.  In fact it is their exposure to Ireland that is one of the main reasons why it is seen as at risk.


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## Lightning (13 Dec 2011)

kev53 said:


> Has UB now been excluded from the 100k  Deposit Guarantee Scheme?? What are implications for deposits?



UB are still in the Deposit Protection Scheme which protects the first 100,000 EUR.


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## hipenny (20 Jan 2012)

What is the deposit guarantee for Nationwide UK Ireland?
Is it 100k for Irish banks and 50k for UK banks operating in Ireland?
Thanks


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## Lightning (20 Jan 2012)

hipenny said:


> What is the deposit guarantee for Nationwide UK Ireland?



100,000 EUR per person via the UK FSA. 



hipenny said:


> Is it 100k for Irish banks and 50k for UK banks operating in Ireland?
> Thanks



The guarantee is unlimited for Irish banks until at least June 30th 2012.

There was an old 50,000 GBP guarantee. Nowadays, UK regulated banks have a 100,000 EUR guarantee per person.


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## hipenny (20 Jan 2012)

Thanks for that up to date information. There's so much historical info on this topic its hard to know whats current.

So Irish banks are now unlimited guarantee? That means that there is no point in opening a variety of accounts in different banks to keep the amount in any one bank below 100k.


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## Lightning (20 Jan 2012)

hipenny said:


> So Irish banks are now unlimited guarantee? That means that there is no point in opening a variety of accounts in different banks to keep the amount in any one bank below 100k.



Irish banks have had an unlimited guarantee for 3 years or so. 

There are only 3 Irish banks left and there may soon be 2. I see little point in splitting your deposit over Irish banks. The risk level is the same. In the unlikely event of one going to the wall, they will all go.


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