Danske Bank has announced its latest half-year figures, with an increase in operating profit, lending and customer deposits.
However, pre-tax profit was down 6% from £110 million last year to £103 million after impairment charges, money allocated to cover the impact of bad loans.
The Bank’s lending rose by 7% year on year, whilst deposits were up by 2%.
On business lending, Danske Bank appoved £370 million worth of business lending. Notable business deal included growth funding for Andras House, Finnabrogue, Used Cars NI, The Deluxe Group and Connswater Homes.
In the first six months of 2024, the bank also approved £360 million worth of mortgage lending.
Vicky Davies, CEO of Danske Bank UK, commented:
“I am pleased to announce a strong set of results for the first six months of 2024.
A robust financial performance means we are well positioned to continue to support customers when they need us. “In the first half of the year we supported the Northern Ireland business community with over £ 370 million in business lending approvals.
“The number of new small business accounts opened was up around 70% year-on-year, with us currently offering two years fee-free banking to small businesses if they switch to Danske Bank and open a small business digital account. In addition to our easy-to-use digital banking platforms, small business customers are supported through a strong local presence on the ground in Northern Ireland through our branches, contact centres and business advisor teams. Small businesses can apply to become a customer digitally through our website. “In the first six months of the year we also provided around £360 million in mortgage lending approvals across Northern Ireland, up over 30% year-on-year. Markets are expecting the Bank of England base rate to ease back over the months ahead, and we are anticipating that the healthy level of mortgage lending seen in the first half of the year will continue across the rest of 2024.”