Ulster Bank operating loss up to €988m

Ulster Bank’s operating loss for the first nine months of 2012 was £797m (€988m) compared with a loss of £751m for the same period in 2011.

The operating loss for the third quarter ending Sept 2012 was £242m, which was a marginal improvement on the operating loss of £245m at the end of the second quarter this year, but well above the £208m third quarter loss posted in 2011.

It has been an extremely challenging year for Ulster Bank. During the summer, a technology malfunction at the bank caused widespread disruption to its services.