Ireland-based Ulster Bank Ireland DAC will pay a €500 million dividend to its parent company NatWest Holdings Ltd., a unit of Royal Bank of Scotland Group PLC.

The bank had paid €3 billion in dividends to RBS before the current payment, according to The Irish Times. It received a €15 billion bailout from RBS during the financial crisis.

The Irish lender said that it will have common equity Tier 1 ratio of 27% after the payment of the dividend which is significantly above regulatory capital minimums.