Thursday, 15 October 2020
Department of Finance
130. To ask the Minister for Finance outcome of his recent meeting with a bank (details supplied), in particular the outcome of his conversation with the bank regarding the recent statement by its parent company that it was reviewing the position of the bank in the market here; if he has seen the terms of reference for the review; and if he has further meetings planned. [30815/20]
I am aware that NatWest is engaged in a strategic review of its operations, including those of its subsidiary, Ulster Bank, thanks to media reports published last month.
Following these report, officials from my Department contacted Ulster Bank and NatWest. Both Ulster Bank and NatWest highlighted that work on the review is ongoing and no decisions have yet been made. Furthermore, NatWest confirmed that there is no set timetable for this review and that it is fully aware of the strategically important role that Ulster Bank plays in the provision of financial services to the Irish market.
My office is currently working on scheduling a meeting with Ulster Bank. I expect it will take place soon.