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Ulster Bank

By: EconomyWatch Content Date: 28 October 2009

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Ulster Bank was established in 1836 and became a wholly owned NatWest subsidiary in 1917. In 2000, the Royal Bank of Scotland Group successfully acquired NatWest and all its assets, and subsequently Ulster Bank became a fully owned subsidiary of the RBS Group. In order to boost their image in the UK mortgages landscape, Ulster Bank acquired First Active, a leading mortgage provider, for €887 million in 2004.

Ulster Bank Credit Cards: Divisions

Across the Northern Ireland and the Republic of Ireland, Ulster Bank now employs over 7,000 employees in over 280 branches with approximately 1.8 million personal and business customers. To cater to the growing demands of both segments of customers, Ulster Bank Group is divided into two business sections:

· Ulster Bank Retail Markets

· Ulster Bank Corporate Markets

Ulster Bank Retail Markets provides Direct Banking and Branch Banking all over the Republic of Ireland and Northern Ireland. Furthermore, Ulster Bank Retail Markets is subdivided into two sections:

· Retail

· Direct Banking

Ulster Bank Corporate Markets serves the requirements of business and corporate customers, treasury activities, asset financing, wealth management and securities lending. The Corporate Markets division is subdivided into four business segments:

Commercial and Business Banking division: This group is responsible for providing services to various forms of businesses, from startups to fully established entities. This group operates a network of over 50 centers across the island.

Corporate, Property and Invoice Finance: This group is responsible for serving large customers across different verticals like energy, finance, healthcare and infrastructure. The group also provides services and advisories in property development and corporate investment products.

Capital Markets: This group is responsible for helping customers with their hedging and other investment banking related matters. This unit also provides advice on treasury developments.

Wealth Management: This group is responsible for providing a range of wealth management solutions to its high net worth clients. It provides customized wealth preservation, generation and transfer initiatives through a network of experienced wealth managers. This wealth management group draws its capabilities from the corresponding RBS Group.