Ulster Bank reports 2009 loss of £368m

ULSTER Bank made a loss of Stg£368 million (€414m) last year against a profit of £218m in 2008.

Recovery will depend on the global economy performance and how the Irish economy responds to its current difficulties.

Loan loss provisions have gone up by a factor of six times from £106m to £649m, reflecting a backdrop of “extremely difficult market conditions”, it said.