NatWest’s struggle to sell Ulster Bank
Commercial banking is a dismal business these days
COMMERCIAL BANKING was once said to be governed by the three-six-three rule: pay depositors a 3% interest rate, charge borrowers 6% and always be on the golf course by 3pm. That world is long gone. Nowadays, with interest rates stuck on the floor, the spread between deposit and loan rates has shrunk. Rather than teeing off at 3pm, bankers are more likely to be stuck behind their desks trying to think of new ways of turning a profit. In an era of ultra-low interest rates the traditional business model looks much less attractive to investors, as NatWest, a large British bank, has found while trying to sell the Irish operations of its subsidiary, Ulster Bank.
This article appeared in the Britain section of the print edition under the headline “Par for the course”
Britain April 10th 2021
- Britain, the covid-19 laboratory
- Britain’s boozers are going al fresco
- Two Conservative mayors have very different ideas about cities
- NatWest’s struggle to sell Ulster Bank
- Brexit is the catalyst for rioting in Northern Ireland
- Foreign students remain remarkably keen on Britain’s universities
- Liz Truss and the power of perkiness
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