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*Home > Group Information > Investor Relations > Financial Results > Results 2000 > Report and Accounts > Ulster Bank
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Group Information

Ulster Bank

Above: Brendan McGrath, Managing Director, Avro Fleet Partnership and Donal Duffy, Associate Director, Business & Corporate Banking, Ulster Bank

Thanks to consortium finance arranged by Ulster Bank, Avro Fleet Partnership was able to purchase two brand new state-of-the-art long liner trawlers.

We increased our contribution by 21 per cent to £242 million.
Martin Wilson Chief Executive, Ulster Bank

  • Ulster Bank continued strong profit growth through core businesses and through the ongoing implementation of our major change programme, Project Horizon. 

  • Lending growth continued across all businesses; average customer advances rose by 24%, £1.6 billion to £8.3 billion. Average customer deposits grew by 11%, £0.7 billion to £7.3 billion.

  • Project Horizon, which will free up more staff time to look after customers, is well underway. Over one third of our branches and business centres are operating under the new system. The programme will be completed by December 2002.

  • In May 2001, we opened our new Account Management Centre in Belfast, which serves all our customers throughout Ireland.

  • We launched a number of major new products during the year, including U First, a packaged current account, which is the first of its kind in Ireland.

  • We launched new flexible mortgages which track Base Rate and European Central Bank Rate.

  • Our euro preparations, including the distribution of 176 million in euro notes and 33 million (over 500 tonnes) of euro coins to our branches, facilitated the changeover on 1 January 2002.

  • We held more than 150 euro seminars for over 10,000 customers, and provided a euro internet site and a wide range of euro publications.

  • In support of a Government-led savings initiative, we launched an innovative range of Special Savings Incentive Accounts in the Republic of Ireland. 

  • Our card acquisition business saw turnover grow by 35%, with the overall Group now having market shares of 38% in Northern Ireland and 23% in the Republic of Ireland.

  • We were awarded the entire Irish and UK retail business for Jurys Doyle Hotel Group plc.
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