Ulster Bank will spend €73 million upgrading its 213 Irish branches and rebranding its logo over the next three years.

The bank, which is owned by Edinburgh-based Royal Bank of Scotland, yesterday revealed its new blue and white logo, which is the same as that of its parent - featuring four diagonal arrows pointing into the centre of a contrasting background - at 28 of its branches yesterday.

The new livery will be rolled out at the bank's remaining 185 branches around the country over the coming months.

"This is part of our first step in the improvement of the overall positioning of the bank," said a spokeswoman. "It is refreshing our overall image and bringing us closer to our parent. It's a whole new look for Ulster Bank."

All the bank's branches, including the 123 in the Republic and 90 in the North, will be renovated and improved over the next three years.

"Our customers have told us that the branch network is important to them, so this investment is about making them more user-friendly and the kind of place people will enjoy visiting," Cormac McCarthy, the bank's chief executive, said in a statement accompanying the announcement. Ulster Bank, formerly part of NatWest, was acquired by Royal Bank of Scotland with that group in a £21 billion (€31 billion) deal in March 2000.

Earlier this year Ulster, which is one of Ireland's top three lenders, reported a 15 per cent increase in first-half income, buoyed by a strong mortgage and lending market.

The bank's spokeswoman said its old logo was still associated with NatWest and that it was time to move away from that part of the bank's history.

Royal Bank of Scotland is also the parent of the First Active group in the Republic.