Business News

Ulster Bank’s new offering to support Ireland’s export growth

By Business & Finance
29 June 2015
Eddie Cullen, UlsterBank

Businesses seeking to grow through exporting in 2015 will benefit from Ulster Bank’s newly launched International Business offering.

Designed to make it easier to enter new markets, the offering combines access to specialists from Ulster Bank’s International Business team with a suite of online services such as Ulster Bank Trade and MaxTrad. The services include Foreign Exchange Exposure Management and Global Trade Finance. These are backed up by Ulster Bank’s unrivalled international network through its parent, The Royal Bank of Scotland (RBS) Group which includes a large footprint throughout the UK, Ireland’s greatest export market for indigenous SMEs, and an extensive correspondent banking network worldwide.

Ulster Bank has €1.9bn to lend to SMEs this year and is the only bank in Ireland with membership of the International Banking Association (IBOS). This membership connects businesses with other IBOS member banks across 26 countries worldwide and offers the services of these banks to Ulster Bank’s Irish client base.

Eddie Cullen, managing director of the Commercial Banking Division in Ulster Bank said: “For businesses in Ireland to maximise their potential, exporting overseas is a must. In 2014, exports reached a value of €89bn and this was both growth in exports to the traditional UK, European and US markets and strong growth to newer markets such as China and Japan.”

He continued:“Ulster Bank is the only international bank in Ireland that can offer customers here connections across the UK and internationally through our correspondent banking and partner network. We have a strong product suite which ensures their international business is conducted with a minimum of risk and understand the challenges they face, such as the recent fluctuations of the euro/sterling/dollar exchange rates, which can have profound impacts on these businesses.”