Ulster Bank is thought to be speeding up the sale of its remaining Irish loans as parent company Royal Bank of Scotland attempts to cut its losses and wind up its toxic loans unit early.

The Irish Independent reports that RBS wants to off-load most of the toxic assets in its bad bank by the end of this year, which is 12 months sooner than originally planned.

Ulster Bank has already sold off most of its bad property - related loans made during the Celtic Tiger era.

However it is understood some of the assets yet to be sold by RBS will be tied to Ireland.

Speaking to Newstalk Breakfast, Brenda Kelly - Chief Market Strategist at IG Group - says it could ultimately lead to the sell-off of Ulster Bank, but it is too early to say:

RBS was hit hard by the collapse of the property market in Ireland. The bank has sunk an estimated €19 billion into Ulster Bank, since the banking crises began.

However in August Ulster Bank said it made a profit of €84m in the first half of 2014, 

Staff at Ulster Bank are also set to get pay increases under a two-year deal. It includes pay rises for 2015, and a lump sum payment for all staff below managerial level which was paid before Christmas.

The deal will also see a return of performance-related pay rises for managers this year.

The pay rise followed the news in November that 47 jobs were to go with the closure of a number of Ulster Bank branches.

Originally published at 7.46am