The wider RBS group’s profit halved to £519 million (€595 million) as it set aside £802 million of loan impairment provisions. The bank said it would make no specific charge against loans on which it has agreed a 90-day payment holiday. “For Ulster Bank RoI, customers who are granted Covid-19 related payment breaks of less than 90 days, but are otherwise considered to be viable enterprises, are not being categorised as forborne,” the bank said. “The categorisation of payment breaks for over 90 days remains under discussion with the local regulator,” it said. The State’s banks and other lenders agreed on Thursday to extend payment breaks, originally unveiled last month for a three-month period, to six months.

Source: The Irish Times May 01, 2020 06:45 UTC