Ciarán Lynch (Cork South Central, Labour)
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215. To ask the Minister for Finance if he has had discussions with his counterpart in the UK regarding the largely State owned RBS Bank and its plans for its subsidiary Ulster Bank; if it is intended to close branches and reduce staff and services here; and if he will make a statement on the matter. [9475/14]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that following the review by the UK Treasury in Autumn 2013, RBS reaffirmed its commitment to the Irish market. RBS is currently reviewing the operations of Ulster Bank in Ireland with a view to creating a sustainable business model. My Department has engaged with the UK Treasury as part of the Treasury review and I also recently met with senior RBS executives regarding the outlook for the bank both here and in the UK.

I fully understand and appreciate the concerns of Ulster Bank employees but I must await the findings of the review before commenting further. It is expected that the findings of the review will be published by the end of February.