December 5, 2016 / 11:51 AM / a year ago

Ulster Bank a key part of RBS' post-Brexit options: CEO

DUBLIN (Reuters) - Britain’s vote to leave the European Union has strengthened the strategic importance of Ulster Bank to RBS and the Irish lender is a key part of its parent group’s post-Brexit planning, Ulster Bank’s chief executive said on Thursday.

Custom House is reflected in the windows of the Ulster Bank Group offices on the River Liffey in Dublin January 13, 2012. REUTERS/Cathal McNaughton

“As a bank regulated in Ireland, in a post-Brexit scenario, Ulster Bank has a unique position within RBS,” Gerry Mallon told a parliamentary committee.

“One of the things it (Brexit) does is cast a question mark over the issue of passporting of banking capability across European borders. RBS needs to think about what its options might be, it has a number of licenses in Europe and I think we are a key and very real part of those strategic options.”

Reporting by Padraic Halpin; editing by Susan Thomas

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