– Jim Brown, Ulster Bank chief executive
We recognise that we have work to do to restore our customers' trust in us and we believe that this is the first step in that direction.
We have worked with our key stakeholders to ensure the additional measures which we are taking provide a comprehensive response to customer concerns and demonstrate our commitment to making amends.
Ulster Bank customers hit by a month-long IT meltdown which crippled the bank will be offered the following compensation:
- A one-off 25 euro (just under £20) payment for customers.
- Free banking for three months with Ulster Bank promising to waive certain fees, charges and surcharge interest.
- The compensation package will be worth at least 35 million euros (just under £28m).
Ulster Bank has announced details of compensation package for customers affected by the bank's "technical incident".
The bank will issue a one-off payment of £20 to Personal current account customers who visited and transacted at branch.
Jim Brown, chief executive of Ulster Bank, said £28m was being set aside at Group level for costs arising from the technical glitch.