Ulster Bank chief rejects idea of unsustainable mortgage demand

Cormac McCarthy, Ulster Bank chief executive, has rejected claims that the sale of 100 per cent mortgages was fuelling an unsustainable level of mortgage demand.

5th August, 2006

Cormac McCarthy, Ulster Bank chief executive, has rejected claims that the sale of 100 per cent mortgages was fuelling an unsustainable level of mortgage demand.

Ulster Bank Group across Ireland, which includes First Active, last week reported operating profit rose 20 per cent to €265 million in the first six months of the year. The performance was boosted by a 29 per cent increase in mortgage advances in the Republic.

McCarthy said that the sale of 100 per...

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