Royal Bank of Scotland is to receive a dividend from its Irish arm for the first time since the financial crisis on the back of economic recovery in the Irish Republic.
Ulster Bank has received regulatory approval from the Central Bank of Ireland and the European Central Bank to make the £2bn billion payment. It will make the payment on November 29, subject to board approval.
Ulster Bank chief executive Gerry Mallon said that the company “ remains very well capitalised with a strong balance sheet”.
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