Business Irish

Tuesday 28 January 2020

Ulster Bank to pay €500m in dividends to parent company

Stock photo: PA
Stock photo: PA
Ellie Donnelly

Ellie Donnelly

Ulster Bank, a subsidiary of Royal Bank of Scotland, is to pay a dividend of €500m to its parent group, NatWest Holdings.

Post the pay-out, Ulster Bank’s common equity tier one ratio (CET1) - a key measure of a bank’s financial strength - will stand at 27pc.

In a statement, Ulster Bank said it remains in a “strong” capital position following payment of the dividend, “significantly above regulatory capital minimums.”

Ulster Bank has now paid a total of €3.5bn back to its parent company in the past three years.

The bank made a €1.5bn payment to its parent in January last year.

In November 2016 it paid a dividend of €1.5bn.                     

Ulster Bank received a £15bn (€17.8bn) lifeline from its parent for both the Republic and the Northern Ireland operations in the wake of the financial crisis.

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