Ulster Bank ready to get back to business
Significant losses on home loans contributed to another bad year for Ulster Bank, but it hopes that more cost-cutting will give it an edge over its competitors, writes Jon Ihle.
Mortgages are turning out to be the most stubborn problem in Irish banking. Four years into the financial crisis and losses on home loans keep piling up, even as the more dramatic catastrophe in commercial property and development lending recedes into memory.
Ulster Bank's mortgage impairments doubled last year to €570 million after a tough second half seemed to catch the bank, Ireland's third-largest, by surprise. The losses contributed to another bad year for the...
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