Ulster Bank profits driven by loans

ULSTER Bank Group has reported solid first-half profits, driven by good mortgage and business lending across the island.

Ulster, which incorporates First Active, boosted its contribution to first half profits of parent Royal Bank of Scotland by 18% to £215 million (€361m).

Total income for the half year rose 15% to £408m (€587m) while net income from interest charges was up 18% to £306m (€440m). Lending at the end of the period stood at £24.9bn (€35.8bn).