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28/02/2002
Ulster Bank profits boost in 2001
The Ulster Bank has reported profits of £242m for 2001.
The figure is an increase of 21 per cent on the previous year, while net interest income rose by 19 per cent to £351m due to strong growth in customer loans and deposits.
Advances were up by just under 25 per cent while deposits grew 11 per cent to £7.3bn. Bad debt provisions were also 21 per cent higher at £23m.
However, cost's rose 10 per cent to £271m, mainly due to marketing costs and preparation for the euro changeover which occurred on January 1, 2002.
Parent bank Royal Bank of Scotland, which has recently been mentioned as a possible buyer for AIB, also reported on Thursday February 28 a 32 per cent leap in profits for last year to £5.8bn. (MB)
The figure is an increase of 21 per cent on the previous year, while net interest income rose by 19 per cent to £351m due to strong growth in customer loans and deposits.
Advances were up by just under 25 per cent while deposits grew 11 per cent to £7.3bn. Bad debt provisions were also 21 per cent higher at £23m.
However, cost's rose 10 per cent to £271m, mainly due to marketing costs and preparation for the euro changeover which occurred on January 1, 2002.
Parent bank Royal Bank of Scotland, which has recently been mentioned as a possible buyer for AIB, also reported on Thursday February 28 a 32 per cent leap in profits for last year to £5.8bn. (MB)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
