Ulster Bank Ireland Designated Activity Company products, services and reviews

About Ulster Bank Ireland Designated Activity Company

Ulster Bank Ireland Designated Activity Company is the Republic of Ireland subsidiary of NatWest Group and has been in an orderly wind-down since NatWest announced its withdrawal from the Irish market in February 2021. The bank ceased new lending and closed to most new business during 2021–2022, issued phased closure notices to personal and business current and deposit account customers from 2022, and shut its branch network in 2023. As part of the exit, it executed multiple asset disposals: large portions of its performing corporate and commercial loan book transferred to AIB Group, while Permanent TSB acquired significant tranches of performing non‑tracker residential mortgages, SME loans, and the Lombard asset finance business, along with certain branches and staff, following regulatory approvals. The entity remains regulated by the Central Bank of Ireland during the wind-down, with residual operations focused on servicing remaining accounts and facilities, completing loan transfers, managing collections, and handling complaints under the Central Bank’s Consumer Protection Code and FSPO oversight. Digital and in-branch services for day‑to‑day banking have largely been decommissioned for customers whose accounts were closed or migrated, though statement access and support for remaining products continue. Historically the bank provided retail, SME, and corporate banking across Ireland; it has also been subject to regulatory enforcement, including a significant Central Bank fine in 2021 related to tracker mortgage failings. Deposits in scope were covered by the Irish Deposit Guarantee Scheme up to statutory limits until account closure, and customers were given notice windows to move payment mandates and balances. As the wind‑down progresses, Ulster Bank Ireland DAC is not a source of new products and continues to reduce its balance sheet and operational footprint while meeting regulatory and customer remediation obligations.