Irish Times: Ulster Bank’s departure likely to push up banking costs – consumer advocates


Trevor Grant, chairman of the Association of Irish Mortgage Advisors, described the news as “disappointing” for consumers, removing one lender from their choice of providers.

The departure of Ulster Bank from the Irish market, a process that will take some years, is likely to lead to higher lending and banking costs, and may precipitate a broader move to negative rates on deposits, consumer representatives have warned, as unions fear for the future of jobs at the bank.