Belfast Telegraph

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26. Northern Bank

Chief executive: Gerry Mallon

Employment: 1,602


Pre-tax loss: £216.8m

Northern Bank is part of the Danish-based Danske Bank Group and is one of the main retail banks in Northern Ireland.

It has a network of 72 branches and five business centres.

The bank launched a secure mobile banking App, which has been downloaded more than 25,000 times since September.

It also said it issued over £950m in business lending and said it continues to support the mortgage market. It increased the amount of mortgage funds approved by 39% over 2010, over half of which were to first time buyers.

An underlying profit of £57.1m before impairments represented a 20% improvement over 2010 but pretax losses reached £216.8m, more than double the loss in 2010. Impairments remained at a very high level given the ongoing condition of the property market.

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Belfast Telegraph


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