Danske Bank first quarter profits jump on increased transaction and interest rates

Danske Bank’s Northern Ireland arm has reported a near-threefold increase in pretax profits in the first quarter of the year.

The bank made £48.9 million for the three months to the end of March, a jump from £16.7 million in the same period last year.

It put the jump in profits down to an increase in transactions, growth in its balance sheet and higher UK interest rates.