Ulster Bank sees modest pick-up

ULSTER Bank which has cut over 700 jobs from its total Irish operations has reported a modest pick-up in trading for the first quarter of the current year.

In the three months ended March 31, 2010, the group made operating profits before bad debt charges of Stg£81 million (€93.6m) up from £73m in the same period last year.

Impairment losses were substantial at £218m (€252m), but that figure was well down on the £348m incurred in quarter one of 2009.