Danske Bank UK, the Northern Ireland arm of the Danish bank, has recorded a 15% ramp up in profits for the first half of the year on the back of an increase in transactions and higher UK interest rates.
It made pretax profits of £43.8 million for the six months to the end of June compared to £38.1 million in the same period last year.
Despite concerns around inflationary pressures, impairment levels – funds set aside to protect against bad debts, remain relatively low at around £4.4 million. Meanwhile, deposits remain high at £10,530 million, a legacy of the Covid-19 pandemic when lockdowns meant consumers were saving more money than usual.
