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ULSTER Bank plans to cut approximately 80 jobs as part of its plans to outsource work on mortgage arrears in the Republic of Ireland to Scotland.

The bank announced it will axe a total of 110 staff – mainly at its Dublin Mortgage Centre in Sandyford with a small number in Belfast – but will partially offset this with 30 new roles as "field agents" involved in collection work.

Larry Broderick, General Secretary of the IBOA The Finance Union, said that he is concerned overseas staff may not be as attentive or understanding as those involved in mortgage arrears negotiation.