Halifax (BOSI) decision to pull out of Ireland:Ulster Bank Implications?

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ajapale

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The decision of Halifax (BOSI) decision to pull out of Ireland is discussed at length elsewhere.

I would like to know what the implications are for Ulter Bank and other UK regulated banks operating in the republic.

Can the UK treasury order the Ulster Bank out of the ROI market?
 
RBOS have already made the decison to close most First Active branches.

In theory I would guess that the uk treasury could request that Ulster Bank be closed. Either that or NIB closing would have a major impact on the domestic market.
 
BOS's parent group is 43% owned by the UK government - bt RBOS is 70% state owned so maybe anything is possible
 
RBS at the minute are going through a process of selling off some assets but UB north and south are not on the list. Whilst it is possible for the UK govt to order a sell off of UB, I would say it is probably very unlikely. The decision to close First Active is a common sense one, given that it is doing very little mortgage business and it makes little business sense to have 2 branches from the one bank (under different brands) a few doors apart. It should have been done years ago
 
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