Ulster Bank set aside €52m for customer compensation

on 02/11/2012 08:03:50

Ulster Bank said that it has paid out €52m in compensation to customers in Ireland affected by the technical problems at the bank earlier this year.

Around 750,000 Irish customers were unable to access their accounts during the IT crisis which began in June.

The overall cost of the technical problems in Ireland has hit €103m, comapred to previous estimates of around €35m.

The bank said that the "technology incident" has not led to the loss of large numbers of customers.