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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 rather cloudy morning, with a little patchy light rain or drizzle to start. Skies clearing and becoming dry and increasingly sunny in the afternoon. Maximum temperature 13 °C.Tonight:Dry with prolonged clear spells through the evening and overnight. This will allow for some fog patches to develop in places overnight. Minimum temperature 2 °C.
