UB Tracker Mortgage Provision Increased By Over €100 million

[SaySomething]

Reported today: Ulster Bank has provisioned €228 million for tracker mortgage issues. http://www.independent.ie/business/...ays-no-dividend-until-next-year-35478859.html

In August 2016 the provision was €118 million: http://www.rte.ie/news/business/2016/0805/807062-ulster-bank-h1-2016/

Several inaccuracies in today's article the biggest being the subheading:
Ulster Bank’s operating profit in Ireland fell by €338m last year as a result of costs paid to thousands of its customers affected by the tracker mortgage scandal."

 

[babyblackie]

How true and there is no mention of the 1 billion UB paid to it's parent company RBS in dividends last year. That's got to punch a big hole in your cash flow.

 

[Onceagain]

Boucher warns of increased variable rates.:mad:

 

[Tedtalk]

Ya because BOI will be skinned by Central Bank. €25m provided today - Boys ye forgot a zero there!!! Look at whats happening UB, im guessing something like €250m will be the true impact

 

[SaySomething]

@Tedtalk Thats for 600 customers approx. Ulster Bank confirmed figures are far higher.