Ulster Bank reports €69.5m profit

Ulster Bank’s operating profit for the first six months of the year was £55m (€69.5m) compared with a £381m operating loss for the same period last year following a huge decrease in impairment charges.

Impairment charges fell from £503m to £57m over the period. Net interest income from last January to June was £323m compared with £302m in 2013.

Total income was £412m compared with £444m last year.