Bank's CEO says they'll do 'whatever is required' to comply with both legislation & regulations

Ulster Bank has said it could sell around a third of its home loans in arrears.

That means as many as 7,000 mortgages could be put on the market.

It'll make it the second bank here to try to sell non-performing loans.

Permanent TSB is also looking for a buyer for 18,000 of them - despite Fianna Fáil's efforts to block the sale amid concerns the eventual buyer could be a so-called 'vulture fund'.

Ulster Bank, meanwhile, has published its full year results this morning, which show it had an operating loss of €151 million in 2017.

Ulster Bank's CEO Gerry Mallon said they've adjusted their accounts to allow for a loan sale.

He said: "It could be approximately a third of the overall non-performing loan book.

"We'll have a portfolio that we'll bring forward to the market, and we'll see who is eligible and interested to buy it."

However, he stressed that the bank will do 'whatever is required' to comply with both legislation and regulations.