Skip to Content
Global News Select

NatWest Outlines Plans for Ireland Exit

By Adria Calatayud


NatWest Group PLC said Friday that it plans to begin a withdrawal from Ireland over the coming years, after a strategic review of Ulster Bank concluded the lender wouldn't achieve sustainable long-term returns.

The U.K. bank said it has agreed to a memorandum of understanding with AIB Group PLC for the sale of a 4 billion euro ($4.84 billion) portfolio of performing commercial loans, and the transfer of staff assigned to this loan book. The potential sale remains subject to due diligence, further negotiation and agreement of final terms, as well as regulatory and other approvals, NatWest said.

The lender said it is also in early discussions with Permanent TSB Group Holdings PLC and other parties about their potential interest in buying certain retail and small-and-medium-enterprises assets, liabilities and operations.

NatWest said Ulster Bank Ltd.'s banking business in Northern Ireland is unaffected by its decision.


Write to Adria Calatayud at


(END) Dow Jones Newswires

February 19, 2021 02:41 ET (07:41 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.