26/02/2015

Ulster Bank Reports £600m Profit

Ulster Bank has recorded its first annual profit since 2008.

The bank welcomed the figures, which revealed an operating profit of just over £600m last year.

In 2013, the bank recorded a loss of £1.6bn.

In its annual results for 2014, the bank said its performance was helped by a number of factors including an improving economy.
News Image
In a statement, Jim Brown, Chief Executive of Ulster Bank, said: "Ulster Bank today announced annual profits of £606m for 2014, a clear signal that our strategy is working and evidence of sustained progress across all areas of the Bank.

"This performance was driven by the underlying strength of the core Ulster Bank franchise and increased lending to customers across personal and business coupled with our proactive debt management and rising asset prices in a recovering economy."

Ulster Bank is the largest bank in Northern Ireland and the third largest in the Republic of Ireland.

(JP/MH)

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

09 August 2019
IT Product To Care For OAP's Living Alone
A local IT firm has developed a product that allows older people to live independently for longer by monitoring their home environment. Kinsetsu's 'HomeHug' reports on domestic surroundings through a mobile app so concerned family members are kept up to date with information about the environment in their loved one's home.
16 August 2019
NI Children's Hospice Among Mayor's Charity Partners
The Northern Ireland Children's Hospice has been named by the Lord Mayor of Belfast as one of his charity partners. Councillor John Finucane will commit vital funds to support the organisation throughout his term in office.
16 August 2019
New Children's Writing Fellow Appointed
Local author Kelly McCaughrain has been announced as the new Seamus Heaney Children's Writing Fellow for Northern Ireland. An award-winning writer, Kelly will be based at Queen's University Belfast for the next two years, working with students and engaging in outreach activities.
16 August 2019
Cross-Border Disparities Uncovered In Children's Visual Health
A disparity has been uncovered between the visual health of local children when compared to those in the Republic of Ireland. According to research, children living across the border are four times more likely to suffer from amblyopia, more commonly known as a lazy eye, after the optimum treatment period than children in Northern Ireland.
09 August 2019
Extra Week To Explore Bids For H&W
The administrators in control of the iconic Harland and Wolff shipyard have allowed another week to find a buyer. Several potential bidders are believed to have expressed interest in the under-threat shipyard, BDO Northern Ireland has said.