Danske Bank has released their UK financial results for the last 9 months until the end of September 2021.
The findings showed that profit before tax is £49.9 million, up from £10.5 million in the first 9 months of 2020. The results also highlight an improving economic environment leading to loan impairment provisions continuing to reduce.
Meanwhile, as many personal and business customers are paying off debt and holding savings, deposit balances are up 17% year-on-year.
Speaking about the results, Vicky Davies, CEO of Danske Bank UK, 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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Ms.Davies also added: “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. Digital banking trends continue to accelerate. In Northern Ireland log ons to Danske Bank’s digital channels have increased 10% year-on-year, and we are now seeing around 6 million logins per month. Wearable payments, which includes the likes of Apple Pay and Google Pay, are up 54% year-on-year. To ensure we keep pace with customer expectations around digital banking we have established a Technology and Digital Development unit within the bank in Belfast, which we are actively investing in and growing. The unit includes digital channels, robotics, automation, data analytics and IT infrastructure and security teams.”
Find the full report here: Q3 2021 financial results | News and insights | Danske Bank
Source: Written from press release.
