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02/05/2014
Ulster Bank Records Profit
Ulster Bank has reported its first quarterly profit since 2009.
In the bank's latest financial statement, it said it made a profit of £17m in the first three months of 2014. This compares to a loss of almost £1bn in the final quarter of 2013.
The profit comes after the organisation underwent a serious restructuring, while a number of technical glitches has also troubled the bank in recent months.
In a statement, Ulster Bank said stable revenues, a reduction of expenses and an improvement in losses helped improve the results.
Jim Brown, Ulster Bank Chief Executive, is quoted as saying: "Improving customer demand, our ongoing focus on underlying expenses and the benefits of our work in helping our customers in mortgage arrears will continue to drive the momentum in the recovery of our business.
"With our renewed focus on customer service and building a really good bank for our customers, we have seen a good response to our campaign for mortgage customers this quarter and a strong pipeline in business lending as a result of the Ahead for Business series of events across Ireland.
"We are focused on sustaining the recovery of our business which must be built around providing the best customer service on the island of Ireland."
(JP)
In the bank's latest financial statement, it said it made a profit of £17m in the first three months of 2014. This compares to a loss of almost £1bn in the final quarter of 2013.
The profit comes after the organisation underwent a serious restructuring, while a number of technical glitches has also troubled the bank in recent months.
In a statement, Ulster Bank said stable revenues, a reduction of expenses and an improvement in losses helped improve the results.
Jim Brown, Ulster Bank Chief Executive, is quoted as saying: "Improving customer demand, our ongoing focus on underlying expenses and the benefits of our work in helping our customers in mortgage arrears will continue to drive the momentum in the recovery of our business.
"With our renewed focus on customer service and building a really good bank for our customers, we have seen a good response to our campaign for mortgage customers this quarter and a strong pipeline in business lending as a result of the Ahead for Business series of events across Ireland.
"We are focused on sustaining the recovery of our business which must be built around providing the best customer service on the island of Ireland."
(JP)
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