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IFA Farm Business Chairman Martin Stapleton has acknowledged the commitment by Ulster Bank to provide options to alleviate cashflow pressures on farmers, including interest only repayments and extending working capital.

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IFA President Joe Healy has expressed concern at today’s announcement by Ulster Bank of its plan to sell €100m of agri-loans as part of a total distressed loan book disposal of €2.5bn.

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Following a series of meetings, IFA has received a commitment from Ulster Bank to further engage with farmer customers in loan arrears prior to any sale of their loans, IFA National Chairman has said.

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IFA has met with senior Ulster Bank Executive staff in response to the bank’s sudden announcement that it plans to dispose of loans in its specialist loans arrears unit to undisclosed third parties.

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In response to Ulster Bank’s sudden announcement that it plans to dispose of loans in its specialist loans arrears unit to undisclosed third parties, the IFA has sought an urgent meeting with senior Ulster Bank Executive staff.

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