Danske Bank sees profits rise to £61m

Danske Bank posted pre-tax profits of more than £61m last year amid an “improving economic outlook”.

The bank also saw deposit levels growing once again to record levels – reaching £10.6bn.

Total income was down slightly from 2020, sitting at £198.2m.

The bank is also now targeting a section of the UK market with its green mortgages, along with financing for areas such as social housing.

“Last year was a challenging one, characterised by the impacts of the pandemic and uncertainty arising from the end of the Brexit transition period,” Vicky Davies, Danske Bank chief executive, said.

“The housing market remained buoyant in 2021 and we supported homebuyers and mortgage switchers by providing competitive products and simplifying our processes.

“Small business lending, excluding government backed support loans in 2020, was up 9% year-on-year and is approaching pre-pandemic levels. Lending to larger businesses remains more subdued, due to many organisations carrying excess liquidity and some delaying growth plans.

“While Northern Ireland will always be our primary focus, 2021 saw us begin to pursue small pockets of opportunity for growth in Great Britain.

“On the corporate banking side, we are now a lender to the social housing sector in England, as well as being active in the syndicated lending space. In 2021, we supported these sectors nationally through the provision of around £300m in lending.”