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Danske Bank reports £65m profit for first half of 2015

Published 22/07/2015

Danske Bank said the results reflected a combination of improved revenue performance, cost control and impairment recoveries
Danske Bank said the results reflected a combination of improved revenue performance, cost control and impairment recoveries

Danske Bank in Northern Ireland has recorded a pre-tax profit of £65 million for the first half of the year.

The result is a significant increase on the £37.4 million profit reported for the same period last year.

The Danish-owned bank said the results reflected a combination of improved revenue performance, ongoing cost control and impairment recoveries.

The bank, formerly known as Northern Bank, said its lending volumes have continued to increase.

Danske Bank UK CEO Gerry Mallon said: "I am very pleased to report a £65 million profit for the first half of 2015. The performance of the business continues to significantly improve with income up on the same period last year and a continued focus on expenditure.

"The first half of the year has been a particularly strong one for business banking. We have already provided more new lending to business customers in 2015 than we did in the whole of 2014.

"This is down to an encouraging increase in demand for lending from our existing customers after a long spell of relatively subdued demand and the continued acquisition of new to bank customers."

He added: "We can confidently say Northern Ireland continues to experience economic growth. It is clear that businesses are starting to look at new plans for the future, while Danske Bank's own survey forecasts that overall local economic growth should reach 2% in 2015 and 2.3% in 2016.

"Our focus for the second half of 2015 remains firmly on supporting our customers whether that be by making their personal banking easier for them, helping them with personal loans or mortgages or assisting them in taking their businesses to the next level."

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