UB are like many other banks operating in Ireland at present.
They are making Operating Profits (€400m in 2010),
but this is offset by impairment losses (€1,161m in 2010),
leading to overall Operating Losses (€761m in 2010)
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(see page 32)
The Q3 2011 results were
Operating Profits (€272m to 30 Sep 2011),
but this is offset by impairment losses (€1,057m to 30 Sep 2011),
leading to overall Operating Losses (€785m to 30 Sep 2011)
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(see page 35)
The good news in that UB are backed up by RBS Group.
Realistically, imo, the worst that could happen is RBS Group decide to offload UB/ the leave the Irish market.
In this case, they would follow along the lines of Halifax's exit a while ago.