As our business is largely UK-focused, the direct impact on Ulster Bank is not as significant as it is for many other banks.
We’ve already made changes to the way we’re organised to ensure we can serve customers when the UK leaves the EU.
We’ve been operating our banking entity in the Netherlands, NatWest Markets N.V. since 25 March 2019. We’re serving some of our non-UK EEA customers and have transferred some of our Western European Corporate Coverage business into NatWest Markets N.V.
We’ve established our NatWest Bank Branch in Frankfurt, which allows us continued access to the Financial Markets infrastructure in Germany to support Euro Payments and Euro Liquidity via the Bundesbank.
Our Ulster Bank Ireland DAC business will continue to provide services for our customers that live, invest and do business in the Republic of Ireland.
We’ve been involved in consultations with key UK and EU bodies. We’re continuing to work with relevant governments, UK and EU regulators and trade organisations to understand what the future UK-EU relationship means for the Financial Services sector.