Banks in the North should use their profits to update “antiquated” IT systems which failed leaving thousands of customers unable to use their accounts, a report from politicians said.

Ulster Bank is refusing to be drawn on whether its boss Jim Brown will forgo his bonus in light of the massive computer meltdown at the bank, which has affected up to 150,000 people here.

BANK of Ireland is seen as a strong takeover play by a number of analysts during 2004.