Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank Deputies Barry, Smith and Doherty for their questions. I have already contacted the parent bank, NatWest, to ascertain the status of the alleged reports. My contact with the bank has informed the answer I gave to Deputies this afternoon. As the process develops within NatWest, I will of course raise issues and perspectives that I have in this regard. I absolutely understand the concerns that employees will have at this point, not to mention the businesses that are depending on Ulster Bank for lending and investment.

I have personal experience of the unsettling effect of an announcement like this for those who work for the bank. I understand the concerns about their future. I must emphasise, as Deputy Doherty acknowledged, that the State does not have a share in this bank. The parent bank is located in the UK and Ulster Bank is part of its broader structure and company. Notwithstanding those constraints, I will contact the parent bank on the matter.

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