05/07/2012

Ulster Bank And RBS Chiefs To Face Committee

Senior management from Ulster Bank will appear before the Oireachtas finance committee this afternoon.

Ulster Bank chief executive Jim Brown will be accompanied by chief executive of UK corporate banking at RBS Chris Sullivan and Jim Ryan, managing director of branch banking at Ulster Bank, at the committee meeting, which begins at 2.30pm.

Ulster Bank said yesterday, for the first time, that compensation would be offered to customers affected by the technical problems.

The way Ulster Bank is handling the technical failure, which has left more than 100,000 customers without access to funds for over two weeks, has been described by the Central Bank as appalling, unacceptable and exasperating.

Ulster Bank said it now expects that the problems will continue into next week, and until July 16th at the earliest.

(H)


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