Banking results in Northern Ireland during the past year have
shown nn striking change and profits have been well maintained. The Ulster Bank, which is affiliated to the Westminster Bank, earned net profits of £198,980 in the thirteen months to the end of December last, as compared with £215,472 for the preceding twelve months. The Northern Bank recorded a small increase at £129,253, and the Belfast Banking Co., the capital of which is held by the Midland Bank, returned net profits of £111,394 in contrast with £118,054. The deposit figures at these three banks, aggre- gating £48,900,000, were but slightly different from the totals a year earlier, and there was very little change in total re- sources. Movements amongst the assets were in accordance with the prevailing conditions; the totals of bills discounted and advances were moderately lower, andthe funds thus released were employed in the purchase of investments, by far the largest proportion of which consists of British Government securities, or added to cash balances. The effect has been to augment still further the liquid assets of the Northern Ireland banks, and increase the already high ratio to deposit liabilities.
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