Ulster Bank reports loss of €294m last year as it continues exit via IrishTimesBiz
Customers have lodged tracker mortgage complaints with the Financial Services and Pensions Ombudsman . The bank is challenging three of the ombudsman’s adjudications in the High Court.
The total number of people employed in Ulster Bank was 2,200, which was down from 2,400 the year before and 2,600 in 2020. Last year’s headcount includes 400 people employed in discontinued operations. In January, 25 branches transferred to PTSB. The remaining performing non-tracker mortgages, micro-SME loans, Lombard Asset Finance business, and all remaining eligible staff who will move are also expected to transfer in 2023.
Staff who are wholly or mainly assigned to supporting this part of the business have continued to transfer to AIB. Losses on disposal of €123 million have been recognised in 2022, with €47 million in the last quarter in respect of the migrations completed to date. “We made considerable progress against our strategic goals, maintained a well-balanced loan book and distributed significant capital to our shareholders, including the UK government,” she said.
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