In June, the group’s Ulster Bank Ireland unit returned its banking licence, drawing a line under 165 years in the Republic. Thwaite decided in July to sell the remaining shares that NatWest had received from PTSB as part payment for €6.8 billion Ulster Bank loans acquired between 2022 and 2023. A €2 billion surplus cash recovery from Bank of Ireland is on track to offset shortfalls from AIB and PTSB. The group said in October that it faced having to set aside a total of £350 million (€€400 million) to cover compensation and other costs. He sees the market expanding at a slower pace of about 8 per cent in 2026, to €15.6 billion.

Source: The Irish Times January 01, 2026 12:01 UTC