Ulster Bank quarterly profit slumps to €11m

Pádraig Hoare A bad week for Ulster Bank ended with it announcing first-quarter operating profits of €11m, down almost 66% on the €32m generated in the same quarter last year.

A bad week for Ulster Bank ended with it announcing first-quarter operating profits of €11m, down almost 66% on the €32m generated in the same quarter last year.

Total income for the three months to the end of March amounted to €165m, nearly 2% down year-on-year, but 9% down on the final quarter of 2017. Net loans and advances reduced by €300m compared with the fourth quarter of 2017, including a €200m reduction in the tracker mortgage book, the bank said.