A merger between Ulster Bank and Permanent TSB would boost the combined weak profitability by 50%.

The Davy Analysts concluded from their research that despite the obstacles which would emerge in the event of a merger, “we expect that a possible combination, although unlikely in the near term, will garner increased focus and speculation”.

The Analysts expect the merger would meet most resistance in Dublin and Edinburgh in the near term however, if an agreement can be made to facilitate the merger, the profits could boost by over 50%.

-Noah Harte