Ulster Bank has reported an operating profit of €69m (£51m) for the first three months of 2015, up from €10m (£9m) the same time last year and its fifth quarter of profit in a row.
The bank said its total income for the three month period decreased to £190m from £201m as a result of the weakening of the euro.
But stripping out the currency effect, the bank's total income increased by £5m.
It said this reflected a continued improvement in deposit margins, stable loan product pricing and growth in new lending volumes.
Ulster Bank said that both loan and deposit balances were impacted by the weakened euro but were stable on a constant currency basis.
The bank said it had no net impairment charge this quarter compared to a charge of €57m the same time last year.
Mortgage drawdowns rose by 55% in the first quarter of this year compared to the first quarter of 2014, while lending to SME and corporate customers increased by 31%.
The bank said it has €1.9 billion available for business customers this year.
Yesterday, the outgoing chief executive of Ulster Bank told an Oireachtas Committee that the bank would not be reducing standard variable interest rates. Jim Brown said the bank's rates were not overpriced.
In today's results statement, Mr Brown said that the figures showed the underlying strength of the core Ulster Bank franchise.
