Ulster Bank is a large commercial bank, and one of Ireland's traditional Big Four banks. The Ulster Bank Group is divided into two separate legal entities, Ulster Bank Limited (UBL - registered in Northern Ireland) and DAC Ulster Bank of Ireland (UBIDAC - registered in the Republic of Ireland). The Group Headquarters (and UBIDAC's) are located in George's Quay, Dublin, in the Republic of Ireland while UBL's official headquarters are in Donegall Square East, Belfast, in Northern Ireland, and maintain a large sector of financial services in both countries. UK and Republic of Ireland.
Established in 1836, Ulster Bank was acquired by Westminster Bank in 1917. As a direct subsidiary of National Westminster Bank (NatWest), it became part of the Royal Bank of Scotland Group in 2000. It has 146 branches in the Republic of Ireland and 90 in Northern Ireland with over 1,200 non-charging ATMs. The Group has more than 3,000 employees and more than 1.9 million clients.
Video Ulster Bank
History
Ulster Bank was founded as The Ulster Banking Company in Belfast in 1836. The bank was formed by a breakaway faction of shareholders in the newly formed Irish National Bank, founded in 1835, which rejected the bank's plan to invest profits from banks in London rather than at Belfast. The founding directors of the bank were John Heron, Robert Grimshaw, John Currell, a linen barber from Ballymena, and James Steen, the Belfast pigdurb.
Damage notes
In 2002 three Ulster Bank employees were arrested on allegations of theft and money laundering. All three are responsible for the destruction of old banknotes in the former Waring Street bank money center. Between November 2001 and February 2002 they were accused of stealing about Ã, Â £ 900,000 of used paper money intended for disposal. The money is then placed in various bank accounts and community buildings. On January 23, 2004 the men were jailed for two and a half years for the theft of £ 770,000. Mr. Supreme Court Justice Sir Brian Kerr criticized bank security measures during the trial.
Active First
In 2003/2004, the Ulster Bank Group purchased First Active, Ireland's oldest building society, for EUR887 million. In 2009, First Active's branch network and business of several hundred thousand savers and borrowers were merged with Ulster Bank, and the brand name was discontinued in 2010.
Computer Failure
In June 2012, a computer system failure prevented customers from accessing the account. Preliminary estimates that the problem will be resolved within a week are highly optimistic with thousands of customers still unable to access their accounts by the end of July 2012, with ongoing issues still not resolved by mid-August 2012. The RBS/NatWest/Ulster Bank issue has proven to be one of the biggest IT failures in the world ever known. Ulster Bank (the smallest part of the RBS group) initially set aside Ã, Â £ 28 million for compensation to customers.
Future
In March 2014, it was reported that the RBS Group is considering merging banks in the Republic of Ireland with some of its competitors to reduce its holdings. The annual RBS Group results for 2013 show that Ulster Bank has an operating loss of  £ 1.5 billion and represents a fifth of the total cost of bad debt of the holding group. In October 2014 RBS insists it will retain the Ulster Bank after improving market conditions in Ireland.
Maps Ulster Bank
Services
Ulster Bank provides various banking and insurance services to private, business and commercial customers.
In Northern Ireland the bank is authorized by the Prudential Rule Authority and governed by the Financial Behavior Authority and the Prudential Rule Authority. Ulster Bank Limited is a member of the Financial Services Compensation Scheme and the British Bankers Association. In Ireland, the bank is governed by the Central Bank of Ireland.
Banks provide Visa Debit cards to customers with their current accounts, having previously issued Maestro (previously Switch) and Laser debit cards to NI and ROI customers, in addition to other financial services. It launched 15 new commitments to retail customers in September 2010.
Ulster Bank is used by RBS to save funds invested through the popular Royal Deposit Plan; one of RBS's current structured investments.
Corporate identity
From 1968 to 2005, the Ulster Bank logo was three chevrons - identical to National Westminster Bank, its owner. The bank transformed into the RBS logo "daisy wheel" and typography style in October 2005. The bank is one of four banks that publish the Pound sterling notes in Northern Ireland.
Banknote
Like the other Big Four banks in Northern Ireland, Ulster Bank retains the right to issue its own banknotes. This is a pound sterling note and is equal in value to the Bank of England record, and should not be confused with the previous Irish pound banknotes.
Ulster Bank currently records all the same designs from the Belfast harbor view flanked by landscape landscapes; the opposite design is dominated by bank weapons. The main difference between denominations is the color and size. The notes incorporate the RBS logo "daisy wheel", after entering NatWest chevrons until 2006.
- 5 pound note, gray
- 10 pounds note, blue-green
- 20 pounds note, purple
- 50 pounds note, blue
In November 2006, Ulster Bank issued its first warning banknote - a problem worth one million Ã, Â £ 5 to commemorate the first anniversary of the death of former Northern Ireland and Manchester United footballer George Best. This is the first Ulster Bank banknote that incorporates the "daisy wheels" of RBS, and the whole matter is taken up by collectors within hours of being available in bank branches.
In 2019, Ulster Bank will issue a series of new banknotes printed in the polymer, and will replace paper equivalent to the current outstanding.
Sponsors
On February 8, 2008, Ulster Bank Group Chief Executive Cormac McCarthy announced a three-year sponsorship deal worth over Ã, Â £ 1 million for the Belfast Festival at Queen's. It is hailed as the "new dawn" for festivals that have suffered from a lack of funds.
Ulster Bank was the first sponsor of The Balmoral Show in 2009, the largest agricultural event in Northern Ireland.
Ulster Bank announced the official sponsor of the GAA All-Ireland Football Senior Championship in April 2008.
See also
- NatWest Holdings
- NatWest Market
References
External links
- Ulster Bank Group
- Ulster Bank Limited Registered in Northern Ireland, No. R733
- Ulster Bank Ireland DAC Registered in the Republic of Ireland, No. 25766
Source of the article : Wikipedia
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