Ulster Bank has reported profits of €258 million for the first half of this year up 30 per cent on last year, according to its parent company Royal Bank of Scotland (RBOS).
Ulster Bank's figures were boosted by the inclusion of mortgage lender First Active which the bank acquired in January.
Loans at Ulster Bank grew by 67 per cent while deposits rose 37 per cent during the first six months of 2004, RBOS said.
