Ulster Bank is emerging as an active recruiter in Ireland

While most Irish banks are retracting, a decent amount of recruitment in Dublin is said to be coming from an unlikely source - Ulster Bank.

With the European Commission approving plans for an orderly wind-down of Anglo Irish Bank and Irish Nationwide, and the domestic banking sector now reliant on the two 'pillars' of AIB and Bank of Ireland, Ulster Bank has been touted as a 'third force' to avoid a duopoly in the industry.

Much of this is referring to its retail operations, however. Ulster Bank's problems related its commercial banking division in Ireland are well-known - it was 391m (€432m) in the red for the first quarter, and its total losses are well over €1bn.

Around 1,000 staff have left the bank over the last three years, largely because of the closure of its First Active business in 2009, at the cost of 750 jobs.

It's perhaps surprising, therefore, that the bank is hiring for around 100 roles this year, according to various recruitment sources. Like many other banks in Ireland, it's taking on loan workout specialists, but is also said to be offering a lot of opportunities across risk, compliance as well as strategic positions related to its retail operations.

One recruiter suggests that, comparative to other institutions in Ireland, Ulster Bank is "hiring like crazy".

The bank declined to comment on the number of roles it's hiring for. However, a spokesperson confirmed that it's likely to be recruiting for positions within "risk, finance and relationship management".

Ulster Bank is also expanding its private banking operations, targeting customers earning more than €145k a year.