Ulster Bank cleared of trying to put viable SMEs out of business

“Invoking insolvency remedies against trading businesses was done only as last resort,” it said, adding that its file review “did not disclose evidence of any viable businesses being forced into insolvency” by a restructuring unit within the bank.

The report into Ulster Bank’s treatment of SME customers between 2008 and 2013 stemmed from the publication of the Tomlinson Report in the UK in November last year.

Tomlinson had investigated the lending practices of UK banks to SMEs, including Royal Bank of Scotland, Ulster Bank’s parent. The report accused RBS, and in some cases Ulster Bank, of deliberately putting customers out of business for profit.