Danske Bank deliver a solid financial performance in first six months of 2022 with a pre-tax profit of £43.8 million.
Vicky Davies, CEO of Danske Bank, said: "In response to inflationary pressures, the Bank of England raised interest rates during the first half of 2022 from 0.25% to 1.25%. UK inflation is at a multi-decade high and we expect interest rates will rise again in the second half of the year."
They continued: “Whilst we have seen continued economic recovery from the pandemic, the outlook for the UK remains uncertain, with higher inflation driving cost of living concerns. We are proactively contacting customers where we feel they may need assistance and we are encouraging any customers worried about how the cost of living may impact their finances to seek advice and to speak to us."
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“Despite the economic challenges, transaction levels in the housing market remain at healthy levels, and the first six months of 2022 saw new mortgage lending approvals at Danske Bank in Northern Ireland up 38% year-on-year. 91% of customers opted for a fixed rate mortgage product, with 62% of them choosing a 5 year-fix."
Danske Bank have reported that in the first half of the year they supported the business community in Northern Ireland through £454 million of business lending approvals and with the launch of an innovative new business banking platform. "Through our online business banking platform, District, businesses can now get a full overview of their finances and gain a single point of entry to their accounts and transactions."
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“Looking ahead, as Northern Ireland’s biggest bank, we will continue to play a key role in supporting the wider economy and we remain resolute in our commitment to support customers through what will be increasingly challenging months ahead.”
Source: Written from press release
