Brits want to sell UB to Paddy


#213

Drip Drip. And RBS have indicated that there are more branch closures to come.

I’m kinda surprised that the Georges Quay branch was included in the latest cull given its proximity to UB RoI HQ.


#214

Are they still the ‘Third Pillar’ ?
Incidentally, If Buffet was to come in and buy it, how much would it cost to make it 100% solvent ?


#215

50,000 Ulster Bank customers face monthly fees for first time - Charlie Weston -> independent.ie/irish-news/ne … 43612.html


#216

Charlie should know that ‘free’ banking is a recent wheeze (2004 or 2005) and it is inevitable that banks will need to reintroduce some form of fees for the current a/c banking facilities they provide.

Just like the indo charges for it’s papers. It was ever thus.


#217

There was free banking at least as far back as 2001, thankfully I still have one of those accounts.


#218

I moved my own account from UB last year to a bank where I have no fees. Keep a joint U First account with the missus with them. The charge is €10 per month but we make sure to use all the extras we can like free phone insurance and European travel insurance.


#219

Takeover bid for Ulster Bank mooted

irishexaminer.com/ireland/ta … 76369.html


#220

You can also get 25% tickets sold by ticketmaster.


#222

Very interesting. Further evidence that a private equity investment is the most likely outcome for the future of Ulster Bank RoI.

Previous reports said that a deal would be concluded by August. The Examiner says it will be after the AQR’s are published in October. Makes sense.

Previous reports focused on a private equity investment. The Examiner says it will be a “takeover” which I assume means 100% of the equity will be sold. Makes sense, RBS want to exit Ireland, no point in half exiting.

This report, like previous reports, throws cold water on the immediate likelihood of a Permo Ulster Bank merger saying talks have not progressed.

This report is the first time I have seen an EBS merger with Ulster Bank suggested although the Examiner says AIB is unlikely to sell EBS. Some kind of post AIB future for EBS needs to be sorted at some stage.


#223

businesspost.ie/#!story/Home … b45d3f07f3


#224

So the “nothing is decided” comments from RBS during the week were probably coded talk for the fact that RBS were waiting on the MS verdict.

It is surprising that the sale process can begin this week without the results of the AQRs been formally known.

When private equity gets their hands on Ulster Bank, will an asset strip follow?


#226

Yeah, your probably right, blame the external consultants when management want the same thing.

The timing of the MS verdict was suspicious coming just after the RBS results probably so the Ulster Bank CEO could avoid talking about the verdict when talking about the financial results to the press.

The Herald today rightly thinks the move is bad for consumers.


#228

Maybe. More likely the Herald is right and the VC will behave like a standard VC and want a quick bang for their buck.


#229

What does independent newspapers think lower mortgage credit and higher interest rates will do to the property bubble/dead cat bounce?

Presumably it’s not good, but it doesn’t warrant a screaming headline, unlike the cso stats based on a tiny volume, or the discredited rantings of one of the establised banking/ea property shills.


#230

Ulster Bank sees €84m profit during first half of 2014

rte.ie/news/business/2014/08 … nk-profit/


#231

If UB remain profitable to whatever degree does the argument for it’s sale need to rethought or become totally defunct, or is the accounting equivalent of papering over the structural cracks?


#232

Final bidders battle for Ulster Bank portfolio - -> independent.ie/business/comm … 99632.html


#233

Borrowers must act fast to avoid circling vulture funds - Nick Leeson -> belfasttelegraph.co.uk/busin … 99562.html


#234

[whatever]


#235

Heard an ad on the radio this morning for a UB fixed rate mortgage. Think it was 4.25%. APR 4.5%. Not sure what the LTV was.