Ulster Bank in €69m profit

Ulster Bank turned an opening quarter operating profit just shy of €70m as lending increased across its business, the bank’s parent group said yesterday.

The operating profit —which represents the fifth consecutive profitable quarter — eclipsed that earned in the corresponding months of last year (€10m).

“Today Ulster Bank has announced an operating profit of £51m [€69m], representing our fifth consecutive quarter in profit,” said Ulster Bank chief executive Jim Brown.