Ulster Bank notes the speculation in the media

18 February 2021

Ulster Bank Ireland DAC

Ulster Bank notes the speculation in the media on 18 February 2021

Ulster Bank Ireland DAC ("UBIDAC") notes the speculation in the media concerning NatWest Group plc's ("NWG") ongoing strategic review of the UBIDAC business.   

UBIDAC understands, from a briefing it received from NWG, that NWG continues to review its strategy for UBIDAC in the Republic of Ireland.  Throughout this review, the priority continues to be to focus on supporting our colleagues in serving our customers in these difficult times.  UBIDAC understands that no decision has been made by NWG and a range of scenarios continues to be considered.

UBIDAC will make a further announcement if it becomes appropriate to do so.

This announcement is released by Ulster Bank Ireland DAC and contains information that qualifies or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to Ulster Bank Ireland DAC as described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Alexander Holcroft, Head of Investor Relations for NWG. The date and time of this announcement is 18 February 2021.

For further information, please contact:

Ulster Bank Media Relations+353 (0) 87 77 39 750 

Forward-looking statements

This document contains forward-looking statements such as statements that include, without limitation, the words 'expect', 'estimate', 'project', 'anticipate', 'commit', 'believe', 'should', 'intend', 'will', 'plan', 'could', 'probability', 'risk',  'target', 'goal', 'objective', 'may', 'endeavour', 'outlook', 'optimistic', 'prospects' and similar expressions or variations on these expressions. These statements concern or may affect future matters, such as UBIDAC's future economic results, business plans and strategies.  In particular, this document may include forward-looking statements relating to UBIDAC in respect of, but not limited to UBIDAC's future economic results, business plans and strategies. Forward-looking statements are subject to a number of risks and uncertainties that might cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, the impact of the Covid-19 pandemic, future acquisitions or divestments, the outcome of legal, regulatory and governmental actions and investigations, legislative, political, fiscal and regulatory developments, accounting standards, competitive conditions, technological developments, interest and exchange rate fluctuations and general economic and political conditions. These and other factors, risks and uncertainties that may impact the above, and any forward-looking statement or actual results are discussed in UBIDAC's 2020 Annual Report and Accounts (including its Principal Risks and Uncertainties). The forward-looking statements contained in this document speak only as of the date of this document and does not assume or undertake any obligation or responsibility to update any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except to the extent legally required.

Legal Entity Identifier: UBIDAC - 635400KQIMALJ4XLAD78