However, insiders warned, the decision does not mean Ulster Bank is out of the woods yet.
"There is still a tough road ahead," one senior figure at the bank told the Irish Independent.
Even after the main questions over its future have been settled, the changes could include further cuts to the bank's 5,800 staff, as well as additional branch closures.
Those cuts could be on the cards after head of RBS Ross McEwan said Ulster Bank will be participating in a group-wide review of the business, to be complete in February 2014.
Insiders say that review is likely to include a hard look at costs, where Ulster Bank is understood to be less efficient euro for euro than some of its peers in Ireland which have experienced dramatic cost-cutting measures in recent years.