Group's annual results for 2013 revealed Ulster Bank had operating losses of £1.5 billion and accounted for a fifth of the parent group's total bad debt charges. In October 2014, RBS confirmed it would retain Ulster Bank following improved market conditions in Ireland. In September 2020, The Irish Times reported that NatWest was considering closing all Ulster Bank operations in the Republic of Ireland, a process that would take around six years. The bank would continue to operate in Northern Ireland. In February 2021, following an extensive review, NatWest Group confirmed plans to withdraw Ulster Bank from the Republic of Ireland, with a "phased withdrawal" over the "coming years". Ulster Bank began freezing certain current and deposit accounts in the Republic of Ireland on 11 November 2022, which were to be closed 30 days later, as part of its staggered process of eventually closing all such accounts. Twenty-five of their branches closed on 6 and 13 January 2023 and were taken over by Permanent TSB. The remaining 63 branches will close on 21 April 2023. Services Ulster Bank provide a full range of banking and insurance services to personal, business and commercial customers. In Northern Ireland, as a trading name of National Westminster Bank PLC, the bank is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. National Westminster Bank PLC is a member of the Financial Services Compensation Scheme and UK Finance. In the Republic of Ireland, the bank is regulated by the Central Bank of Ireland. The bank provides a Debit Mastercard to customers with their current accounts, in addition to other financial services. It launched 15 new commitments to its retail customers in September 2010. Corporate identity From 1968 until 2005, Ulster Bank used the three arrowheads device of National Westminster Bank, its owner. The bank adopted the RBS "daisy wheel" logo and typeface design in October 2005. The bank is one of the four banks that issue pound sterling banknotes in Northern Ireland. Banknotes In common with the other Big Four banks of Northern Ireland, Ulster Bank retains the right to issue its own banknotes. These are pound sterling notes and equal in value to Bank of England notes, and should not be confused with banknotes of the former Irish pound. Ulster Bank's current notes all share the same design of a view of Belfast Harbour