Danske Bank today announced strong income performance driven by a 5% year on year increase in both lending and deposits. Costs were increased due to inflationary pressures, higher regulatory expenses and continued investment to improve customer experience. A net impairment release reflects improving local economic conditions and the strength of the Bank’s loan portfolio
Vicky Davies, CEO of Danske Bank UK, commented:
“I am pleased to announce a strong set of results for the first nine months of 2024. A robust financial performance means we are well positioned to continue to support customers when they need us.
“Even though inflation has been falling and economic conditions have been improving, we remain very conscious that customers are still facing cost of living challenges. We are staying close to our customers, providing assistance where it is needed, whilst continuing to help businesses pursue growth opportunities and people buy or move home.
“In the first nine months of the year we backed the Northern Ireland business community by providing over £490 million in business lending approvals.
Related: Danske Bank UK Financial Results – H1 2024
“We have opened over 1,000 new small business accounts so far this year, and we are currently offering two years fee-free transaction banking to small businesses if they switch to Danske Bank and open a small business digital account. In addition to our easy-to-use digital banking platforms, small business customers are supported through a strong local presence on the ground in Northern Ireland through our branches, contact centres and business advisor teams. Small businesses can apply to become a customer digitally through our website.
“In the first nine months of the year we also provided over £580 million in mortgage lending approvals across Northern Ireland, up over 30% year-on-year. Mortgage lending has remained resilient, supported by a sustained demand for housing in the marketplace, decreasing interest rates and low unemployment levels.
“When it comes to everyday banking, I am pleased to share that we have opened over 13,000 new personal current accounts in the first nine months of 2024, an increase of around 60% year-on-year. You can apply for a Danske personal current account online in less than ten minutes.
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“Personal loan lending volumes are also up over 15% year-on-year. Existing customers can apply for personal loans through our App and year-to-date around 90% of all personal loans have been applied for digitally.
“Looking ahead Danske Bank will continue to be a key enabler of economic growth across Northern Ireland, with a clear purpose centred around helping customers, colleagues and society to thrive.”
Source: Written from Press Release
