On 2 August 2019, IBOS member Ulster Bank reported its H1 2019 Financial Results as part of the RBS H1 Results announcement.
Below are Ulster Bank’s key financial highlights from H1 2019, in comparison with H1 2018:
- Operating Expenses increased to €322m (€285m in H1 2018)
- Commercial new lending has increased, providing €830m in H1 2019
- Customer deposits increased by €1.8bn or 9% compared to H1 2018 supporting an 11 percentage point reduction in the loan to deposit ratio to 100%
In addition, Ulster Bank has recently announced its intention to sell a portfolio of non-performing mortgages with a face value of circa. €900m.
The Bank’s new lending has increased for personal customers and it has also increased new lending to business customers, whilst maintaining a strong capital position and continues to invest.
Read the full press release, with comments from Ulster Bank Chief Executive Jane Howard, here.