Ulster Bank to cut more jobs after €9.3m loss

Ulster Bank says it will be seeking another 250 voluntary redundancies after reporting an £8m (€9.3m) loss for the first six months of this year.

The bank's parent company, RBS, has reported a profit of £15m (€17.5m) for the same period, despite bad debts and loan writedowns soaring to £7.5bn (€8.7bn) .

RBS is 70% owned by the British taxpayer after receiving a £20bn (€23bn) bailout to help it overcome the financial crisis.

Ulster Bank's loss during the first half of this year follows an increase in impaired loans to £157m (€182m).

It says it will be seeking the new redundancies in both the Republic and the North.