The leading British financial group NatWest continues its strategy of complete withdrawal from the Irish banking market, implementing a phased plan for disposing of its assets in the region.
A key point in this process is the bank's decision to sell its 12% stake in Permanent TSB (PTSB) - a small local banking institution primarily focused on mortgage lending. This move is directly related to a larger transaction from 2022, in which PTSB took over part of Ulster Bank's client portfolio.
Last month, NatWest officially returned its banking license for operations in the Republic of Ireland, marking another stage of its systematic withdrawal from the market. An important clarification is that this decision does not affect Ulster Bank's operations in Northern Ireland, which continue without interruption.
The remaining assets of Ulster Bank in the Republic of Ireland are currently managed by the specialized company Ulydien DAC. The bank's branch network in the region was completely closed in 2023, with its loan portfolio transferred to other financial institutions.
The strategic decision to withdraw stems from the bank's consistently unconvincing financial performance, which is a direct result of the deep crisis in the Irish real estate and banking sector. The initial decision to leave was made in 2021, after a detailed analysis of market conditions and economic prospects.
This move by NatWest fits into a broader context of restructuring and optimization of banking operations observed among leading international financial institutions. The company demonstrates consistency in applying its strategy of focusing on the most promising markets and directions.
Experts expect NatWest's complete withdrawal from the Irish market to be completed within the next few months, with this process accompanied by precise management of remaining assets and interests.