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Danske Bank posts £50m pre-tax profits amid ‘improving economic outlook’ for Northern Ireland

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Vicky Davies

Vicky Davies

Kelvin Boyes / Press Eye

Vicky Davies

Danske Bank has posted pre-tax profits of almost £50m for the first nine months of 2021.

The bank said profits were up £10.5m on the same period a year earlier, as the Covid pandemic swept across the globe.

It also says loan impairment provisions are continuing to reduce – the money set aside to deal with losses which can now be released due to better performance.

As a result, Danske says the results reflect an “improving economic outlook” for Northern Ireland.

“I am delighted to share a set of results that reflects an improving economic outlook for Danske Bank and the Northern Ireland economy,” chief executive, Vicky Davies, said.

“This year we became one of the first banks in the UK to reintroduce 95% loan-to-value mortgages, and we followed this up by launching the UK’s first carbon neutral mortgage. In addition, we reduced our rates across our mortgage ranges for purchasers, switchers and existing customers – helping more people get on the property ladder.

“I am pleased to share that we have now also increased our maximum mortgage term from 30 to 35 years to help more customers, particularly first time buyers, as they seek to secure their first home.

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“Small business lending, excluding government backed support loans in 2020, is up 4% year-on-year and is approaching pre-pandemic levels. Lending to larger businesses is more subdued, due to many organisations carrying excess liquidity and some delaying growth plans into 2022.”


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