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Ireland: RBS considers combining with rivals

By  |  March 3, 2014

Royal Bank of Scotland parent company Ulster Bank is reportedly considering a merger with some of its Ireland-based rivals, say reports.

Ulster, which is the largest lender in Northern Ireland, is reportedly looking for ways to reduce costs through a transaction. While the company did not reveal which Irish banks it was looking to, reports say potential targets could be Permanent TBS or the Irish subsidiaries of KBC or Danske Bank.

The merger rumors follow revelations of RBS’s increasing financial hits, increasing its debt from $1.67 billion in 2012 to more than $2.5 billion in 2013.

Full Content: BBC

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