Banking Sector
Dail Éireann — 2020-09-29
============================================================

Paschal Donohoe (FG), Dublin Central

I thank Deputies Barry, Smith and Doherty for their questions. I have already contacted the parent bank, NatWest, to ascertain the status of the alleged reports. My contact with the bank has informed the answer I gave to Deputies this afternoon. As the process develops within NatWest, I will of course raise issues and perspectives that I have in this regard. I absolutely understand the concerns that employees will have at this point, not to mention the businesses that are depending on Ulster Bank for lending and investment.
I have personal experience of the unsettling effect of an announcement like this for those who work for the bank. I understand the concerns about their future. I must emphasise, as Deputy Doherty acknowledged, that the State does not have a share in this bank. The parent bank is located in the UK and Ulster Bank is part of its broader structure and company. Notwithstanding those constraints, I will contact the parent bank on the matter.

---

Source: Houses of the Oireachtas. Licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). The Official Report is revised after first publication; the fetch timestamp below identifies the version quoted.

Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2020-09-29/debate/main
Retrieved: 2026-08-14T04:48:37+00:00
Sitting date: 2020-09-29