| 9.7°C Belfast

Close

Premium

Northern Ireland economy won't feel full Covid-19 impact for months: Bank chief warns of risk of rising company failures and personal bankruptcies


Close

General view shoppers in Belfast City Centre in September 2020. Picture by Jonathan Porter / PressEye

General view shoppers in Belfast City Centre in September 2020. Picture by Jonathan Porter / PressEye

General view shoppers in Belfast City Centre in September 2020. Picture by Jonathan Porter / PressEye

The full economic impact of Covid-19 will not be felt until at least the end of the year, the head of Ulster Bank has said.

And Mark Crimmins, who leads the bank's operations in Northern Ireland, predicted rising numbers of personal bankruptcies and company failures within the small business sector.

He said Brexit was becoming a growing worry and that parent company NatWest's view is that there's a 40% chance of a no-deal outcome.