Ritchie questions impact of RBS sell-off on Ulster Bank customers

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Thursday, June 11th, 2015
SDLP South Down MP Margaret Ritchie has questioned what impact the selling off of the Government’s £32 billion stake in the Royal Bank of Scotland (RBS) will have on Ulster Bank customers in Northern Ireland. ulster bankFollowing a statement in the House of Commons by Minister Harriet Baldwin, Ritchie said, “The Chancellor has announced that the Government’s stake in RBS will be sold off at a loss of more than £7 billion to taxpayers. “It is not clear what impact this could have on the customers of RBS, Nat West Bank and for Ulster Bank customers in Northern Ireland. “Thousands of people across the North and South of Ireland use Ulster Bank for their banking needs and do business through it. It is imperative that Ulster Bank customers are not subject to any negative financial impacts due to this sell-off by the Government. Ritchie added, “I have tabled a number of questions to the Chancellor asking him to clarify what representations he has received that has led him to make this decision and what discussions he has had with the management of RBS, Nat West Bank and Ulster Bank.”
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