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Ulster Bank reports 13pc rise in new lending to €3bn


Stock photo: PA

Stock photo: PA


Stock photo: PA

Ulster Bank, the country's third biggest lender, has reported a 13pc rise in new lending to €3bn - with new business lending running just ahead of new mortgages.

Operating profit was €55m for 2019, the bank said.

That profit was up from €15m in 2018 despite a drop in overall revenue, in part reflecting a sharp drop in costs and write backs of €38m as value previously marked down from bad loans was recouped.

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