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First Active boosts Ulster Bank figures

Ulster Bank - Profits up 40%
Ulster Bank - Profits up 40%

Ulster Bank, which now includes First Active, has reported profits of €258m for the first half of this year, according to its parent company Royal Bank of Scotland. This is up nearly 30% on the same period last year.

The inclusion of First Active helped loans to grow by 67% while deposits were up 37%. Excluding First Active, Ulster Bank's underlying profits were up 12%.

The acquisition of First Active was completed in January.