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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:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
