IBOS member Ulster Bank today, 5 May 2017, released its 2016 Annual Report on the banks financial results with a net interest income of £2m.
At the year end, the total assets of the Group were £36,474m, compared to £33,990m in 2015.
Gerry Mallon, Chief Executive at Ulster Bank, commented:
“2016 was another year of solid progress for Ulster Bank, enhancing our competitive positioning and building a simpler, safer, more sustainable Bank. For 2016, we report a profit after tax of €37m, income of €666m, operating expenses of €772m and an impairment gain of €138m.
“We are pleased to report a 31% increase in new lending, a 48% increase in mortgage drawdowns and a 19% increase in business lending in 2016. This is driven by competitive rates, increased customer uptake of our enhanced digital offering and our continuing focus on customer service as we strive toward becoming the number one bank for customer service, trust and advocacy by 2020.”
Below are the highlights of Ulster Bank’s Annual Report and Statutory Accounts for 2016, compared to 2015:
- Profit After Tax of €37m (2015: €1,090m)
- Total Income: €666m (2015: €715m)
- Operating Expenses: €772m (2015: €552m)
- Impairment Gain: €138m (2015: €929m)
- CET1 ratio of 29.8% at 31 Dec 2016
Read the full report via Ulster Bank here.