Saturday September 19, 2020

Impairment charges increase Ulster Bank losses

Higher impairment losses resulted in an increased operating loss at Ulster Bank of £219 million in the third quarter, the bank said in a statement.

4th November, 2011

Higher impairment losses resulted in an increased operating loss at Ulster Bank of £219 million in the third quarter, the bank said in a statement.

Impairment losses increased by £58 million (€67 million) in the quarter primarily due to a further decline in asset values driving higher losses on defaulted assets in both the mortgage and corporate portfolios, it said.

Ulster Bank’s financial performance continues to be overshadowed by the challenging economic climate in Ireland,...

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