The Punt: Hats off to Ulster Bank chief
IT was a good day for Ulster Bank's chief executive Jim Brown yesterday.
If things had gone differently, the Kiwi bank boss might have faced the awful task of winding down the country's third biggest bank.
Instead, the UK government and RBS chiefs voted to keep the Irish bank more or less intact – a huge relief for customers, policymakers and not least staff at the bank.
There was more good news for Mr Brown (right) and his team, with confirmation in the bank's third-quarter results that mortgage arrears at Ulster Bank have dropped for six months in row.
That's right, not just levelled off but actually fallen. It is no mean feat.
Brown and his chief risk officer Steven Bell are putting it up to the other lenders, and indeed the Central Bank, who The Punt suggests might want to take a few pointers from the team at George's Quay.