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)

Related Northern Ireland News Stories
Click here for the latest headlines.

17 October 2017
Around 3,800 Households Without Power Due To Storm Ophelia
Around 3,800 households are without electricity due to Storm Ophelia. NIE Networks confirmed it is continuing to work to restore the power to homes and businesses in Counties Down, Armagh and Antrim. The worst affected areas include Newry, Annalong, Newcastle, Dromore, Hillsborough, Downpatrick, Ardglass, Lisburn, Dunmurry and Newtownards.
26 September 2017
Decision Due In Bombardier Dispute
Aerospace firm Bombardier is to find out if it will face heavy financial penalties as a result of a trade dispute with Boeing. American firm Boeing claimed Bombardier was selling its C-Series jet below cost in the United States. Around 1,000 workers in Northern Ireland are directly employed on the C-Series project.
20 December 2012
NI Tops UK Worries Poll For Money And Families
People in the Northern Ireland are more concerned about money than anywhere else in the country according to Samaritans' annual worries survey 2012. An exclusive YouGov poll for Samaritans shows that 66 per cent of Northern Irish people placed worries about money in their top five, and 17 per cent above the UK average.
08 August 2019
Impact Of A&E Visits On Cancer Patients Highlighted
Cancer patients with at least one emergency admission in 2015 were twice as likely to die in hospital, a report studying those in their last year of life has found.
14 August 2009
Ulster Bank 'Says Recession Over'
The worst of the house-building downturn may have passed, says one of the top local banks. Ulster Bank's latest Quarterly Economic Review features commentary by their economist, Richard Ramsey . He said key indicators suggest the worst of the economic gloom is behind us and that the most serious phase of the house-building crisis has passed.