FSU opposes "Ulster Bank in name only"

Issued : 1 July 2019


FSU has condemned proposals to end the Ulster Bank banking license in Northern Ireland, saying this would lead to "Ulster Bank in name only."


Speaking after a meeting of Ulster Bank representatives, Gareth Murphy, Acting FSU General Secretary said:


"We now know that RBS proposes to proceed with the full integration of the bank into Natwest, which would alter the employment status of staff in Northern Ireland."


"The ending of the Ulster Bank banking licence could have profound consequences. We have a wide range of concerns about what may happen for both customers and staff in NI, as a result of what we see as the hollowing out of the Bank."


"We are concerned about what the more complete RBS/Natwest/UB integration means for Northern Ireland. Ulster Bank is the leading retail bank in NI. A fuller integration into RBS removes responsibility for the bank outside of Northern Ireland. While the southern entity will not be aligned to Natwest, the proposal further divides the bank north and south."


"The union does not want RBS/Natwest in Northern Ireland to become a hub for low wage jobs in NI, while senior roles are assigned to Natwest. We will be launching a major consultation with members, with a view to opposing the plans and convincing RBS to think again."