Lone Star is understood to be among private equity firms lining up for all or parts of Ulster Bank’s business in the Republic, heightening expectation of Ulster’s exit from the retail banking market here. Lone Star is understood to be working with advisers to study a bid for the assets. “Our strategy for [the] Ulster Bank business in the Republic of Ireland remains unchanged,” NatWest said late last week. Ulster Bank chief executive Jane Howard gave no reassurances over the lender's future at a meeting with the Financial Services Union last week. Permanent TSB has been mentioned as a potential buyer of Ulster Bank’s SME loan book.

Source: Irish Examiner February 08, 2021 17:08 UTC