Finance Committee to meet Ulster Bank executives

Representatives from Ulster Bank will come before the Committee on Finance and the Public Service tomorrow afternoon 5 July to discuss the backlog of unprocessed payments caused by the glitch in its computer systems.

Ulster Bank CEO Jim Brown will be accompanied by Chris Sullivan, CEO, UK Corporate Banking, RBS and Jim Ryan, Managing Director, Branch Banking, Ulster Bank.

Committee chairman Alex White, TD said: “The major technical malfunctions at Ulster Bank have now entered their third week. As a result of this IT glitch, and the resultant inordinate delays in rectifying customer business, many people do not have access to funds and are unable to make everyday payments. It is an unacceptable situation.

“The Committee will press the bank’s senior executives tomorrow on a clear timeframe in which the issues will be resolved and on ensuring customers left out of pocket are appropriately compensated. Having met representatives from the Central Bank’s Financial Regulation Division on the situation today, the Committee is anxious to ensure that the difficulties for Ulster Bank’s customers are resolved as soon as possible.”

The meeting will take place in Committee Room 4, Leinster House 2000 at 2:30 pm tomorrow Thursday 5 July.