Ulster Bank plans to close dozens of branches and cut hundreds of jobs across the island of Ireland. The bank plans to reduce its branch network from 238 to between 175 to 185 by the end of next year. The branch closures will mainly be in rural areas.
Ulster is also planning to cut its staff numbers from 5,800 at the end of last year to between 4,000 and 4,400 by 2016.
The plans were revealed by Ulster Bank management in a presentation to shareholders in its parent company the Royal Bank of Scotland (RBS).
Ulster's future within RBS has been thrown in doubt in the last few weeks. Britain's chancellor of the exchequer, George Osborne, has announced that he is considering hiving off Ulster's toxic loans.
Billions of euro of UK taxpayers' money has been required to bailout Ulster's loan book.
According to the presentation by its chief executive Jim Browne Ulster will be "restored to profitability" by 2016. It says the number of mortgage customers falling into long-terms arrears has begun to reduce in the last couple of months.
It says it is on course to meeting Central Bank targets of offering long-term solutions to borrowers in arrears, though this could mean legal action.
The presentation shows that 35% of those in arrears are not paying anything.
