Goodbody Stockbrokers analyst Eamonn Hughes described the impairment provision as “eye-catching”, equating to an annualised figure of 2.48 per cent of the bank’s loan book. “There will clearly be some front-loading from Ulster in this number,” said Mr Hughes. Payment breaksUlster Bank extended payment breaks on about 12,000 mortgages, 1,300 personal loans and 3,500 business facilities in recent months. “As we respond, we are taking into account a fundamental reshape of the environment and how we provide what our customers want. Our customers have increasingly turned to digital as part of the pandemic restrictions and our activity has accelerated in response.”

Source: The Irish Times July 31, 2020 06:26 UTC