Ulster Bank’s bad loan costs jump by €300m

THE amount of money set aside by Ulster Bank in the first nine months of this year to cover bad loans jumped by nearly £300 million (€349m) compared to the same period last year.

A breakdown of third quarter results from parent organisation, Royal Bank of Scotland (RBS), showed that Ulster increased its impairment charge to £1.06 billion over the nine months to the end of September.

For the same period last year, the bank had an impairment charge of £785m.