Ulster Bank sees profits fall but shows rise in mortgage lending

Ulster Bank sees profits fall but shows rise in mortgage lending

Ulster Bank has reported its profits are down by almost a fifth to €122m.

However, it is not all bad news as it has also seen a 47% rise in mortgage lending.

Ulster Bank's operating profit for the first half of 2016 has shown a 17% decline in the same period last year - it came to £122m (€143.8m).

It reported a net decrease in the value of its stated capital of £27m.

During the second quarter, Ulster Bank set aside a €118m provision linked to a on-going tracker mortgage investigation.

It experienced a 47% in mortgage drawdowns as it grew its market share to 18%.

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