Ulster Bank's UK parent Company Natwest is said to be considering closing all 88 branches in the Republic of Ireland, which could result in the loss of 2,500 jobs.
The Irish Times reports the bank, which has not commented on the report, made a €276 million loss for the first half of the year, compared to €26 million profit for the same time last year.
A merger with another bank is also said to be an option, however it's seen as an unlikely outcome.
Winding down Ulster Banks Irish operations could take up to six years.
