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Ulster Bank company logo
Bank
FINANCIAL | Retail Banking
ulsterbank.ie

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Investments

24

Portfolio Exits

4

Partners & Customers

2

About Ulster Bank

Ulster Bank offers personal and business financial services throughout Ireland.

Ulster Bank Headquarter Location

Block B Central Park, Leopardstown

Dublin,

Ireland

+353 (0)1 608 5377

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Ulster Bank Web Traffic

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Latest Ulster Bank News

Bank levy extended, but amount collected to shrink with departures

Oct 13, 2021

The levy on Irish banks has been extended for another year to the end of 2022, but the Government is giving up €63m in receipts with the departure of KBC and Ulster Bank from the Irish market. The bank levy was due to expire at the end of this year, but Finance Minister Paschal Donohoe announced it is now going to run through the end of next year, bringing in €87m instead of the €150m from this year. Although the extension was expected by the banks, the reduced takings from the measure are something of a surprise. The levy is charged on the amount of deposits held in the main retail banks, but it will apply to fewer institutions next year as Ulster Bank and KBC Bank Ireland are exiting the market. Now only AIB, Bank of Ireland and Permanent TSB will be included in the scope of the levy. However, the Department of Finance will not be asking those banks to pay more to make up the difference, even though the three will be absorbing the bulk of the deposits their departing competitors are leaving behind. AIB and Permanent TSB are negotiating to take over Ulster Bank’s performing assets and liabilities, while Bank of Ireland has a memorandum of understanding with KBC to take on its mortgage and deposit books. But despite the total quantum of deposits remaining roughly the same, the amount collected via the levy will be in the region of €87m. The Department of Finance has committed to reviewing the levy next year, which is a signal that it could be withdrawn. Bank investors would welcome such a move, as the savings would drop through directly to the banks’ bottom line, improving their profitability. The removal of the levy would also show that the Irish banks continuing on the path to normalisation, potentially helping the State market shares and reduce its ownership of the sector. Business Newsletter

Ulster Bank Investments

24 Investments

Ulster Bank has made 24 investments. Their latest investment was in Johnson Hana International as part of their Debt on September 9, 2020.

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Ulster Bank Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/28/2020

Debt

Johnson Hana International

$0.58M

Yes

2

5/18/2020

Loan

Stevenson & Reid

$1.83M

Yes

1

2/6/2020

Debt

Ekco

$21.84M

Yes

1

11/8/2019

Loan

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$99M

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10

7/26/2019

Debt

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$99M

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10

Date

9/28/2020

5/18/2020

2/6/2020

11/8/2019

7/26/2019

Round

Debt

Loan

Debt

Loan

Debt

Company

Johnson Hana International

Stevenson & Reid

Ekco

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Amount

$0.58M

$1.83M

$21.84M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

1

10

10

Ulster Bank Portfolio Exits

4 Portfolio Exits

Ulster Bank has 4 portfolio exits. Their latest portfolio exit was Ulster Bank - Commercial Lending Business on June 28, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/28/2021

Divestiture

$991

1

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

6/28/2021

00/00/0000

00/00/0000

00/00/0000

Exit

Divestiture

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Companies

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Valuation

$991

Acquirer

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Sources

1

10

10

10

Ulster Bank Partners & Customers

2 Partners and customers

Ulster Bank has 2 strategic partners and customers. Ulster Bank recently partnered with NatWest, and Royal Bank of Scotland on April 4, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

4/25/2020

Partner

NatWest, and Royal Bank of Scotland

United Kingdom

1

10/19/2017

Vendor

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10

Date

4/25/2020

10/19/2017

Type

Partner

Vendor

Business Partner

NatWest, and Royal Bank of Scotland

Country

United Kingdom

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News Snippet

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Sources

1

10

Ulster Bank Team

5 Team Members

Ulster Bank has 5 team members, including former Chief Executive Officer, Gerry Mallon.

Name

Work History

Title

Status

Gerry Mallon

Chief Executive Officer

Former

Jim Hickey

Chief Financial Officer

Former

Fran Saunders

Royal Bank of Scotland, Bear Stearns, and Allied Irish Banks

Chief Information Officer

Former

Joe Heneghan

Chief Administrative Officer

Former

Rod Smyth

Managing Director

Former

Name

Gerry Mallon

Jim Hickey

Fran Saunders

Joe Heneghan

Rod Smyth

Work History

Royal Bank of Scotland, Bear Stearns, and Allied Irish Banks

Title

Chief Executive Officer

Chief Financial Officer

Chief Information Officer

Chief Administrative Officer

Managing Director

Status

Former

Former

Former

Former

Former

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