Ulster Bank ‘making good progress on restructuring’

Ulster Bank has said it is continuing to make good progress in restructuring its core business, after seeing first-quarter declines in operating and impairment losses, a levelling out in mortgage arrears cases and a rise in customer deposits.

Yesterday’s quarterly figures show Ulster made an operating loss of £164m (€193m) during the first three months of this year.

This figure was down from the £243m losses in the final quarter of 2012 and marked a 47% year-on-year fall from the £310m losses in the first quarter of last year.