Oireachtas Joint and Select Committees
Tuesday, 19 June 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank
1:30 pm
Mr. Paul Stanley:
The difference concerns the two items I have called out. First, there are the provisions that we took at the year's end for additional conduct items. Moreover, because we had identified a portfolio for potential sale, although we had not designated it fully for sale at that point in time, we were required by the accounting requirements to increase the provision on those based on estimates of further loses that we would take in sales.