Ulster Bank back in profit as withdrawal gathers pace

Net loans to customers fell to €7.9bn last year, from €20bn in 2020. Ulster Bank formally ceased lending to new customers in the Republic last July and stopped accepting new customers from the end of last October

Ulster Bank’s withdrawal efforts accelerated this week with File Picture: Sam Boal / RollingNews.ie

Ulster Bank has posted a profit of €68m for 2021 as it accelerates its wind-down and exit from the banking market in the Republic.

The figure – a turnaround from a full loss of €255m in 2020 – covers continuing and discontinued operations. Ulster posted an operating loss of €259m for 2021 for its continuing operations, which excludes large parts of the bank.