Irish property recovery buoys RBS

RBS for GC web
By Tom Porter
30 Sep 2014

Recovering Irish residential property prices will yield Royal Bank of Scotland’s Ulster Bank division £300m of net impairment provision releases in the third quarter of 2014, the UK banking group said in a trading performance update to the market on Tuesday.

RBS said that rising prices and “pro-active debt management” had resulted in lower arrears at the bank, which is the largest in Northern Ireland and third largest in the Republic of Ireland. Irish property has been on the rise this year, particularly in Dublin, which represents nearly half ...

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