Banks - Cerberus considers Ulster Bank loan portfolio

Davy Research
/Read Important Disclosures

The review of Ulster Bank Ireland by NatWest remains ongoing with continued speculation regarding its conclusion. Ulster Bank Ireland remains significantly overcapitalised from a CET 1 perspective, and we would expect unlocking this is a priority for NatWest. The sale of the entire portfolio to an investment fund would accelerate a wind-down but would also incur significant costs to close the remainder of the bank.