Ulster Bank announce they are withdrawing from the Irish market

Ulster Bank has announced a phased withdrawal from the Irish market.

The bank's wind down will take place over a number of years, with no immediate change for customers.

In a statement, Ulster Bank says it's made a non-binding agreement with AIB for the sale of 4 billion euro worth of performing commercial loans.

It's also in early discussions with Permanent TSB regarding other parts of the business.