Menu
01/05/2014
Improved Performance For Danske Bank
Danske Bank has reported an improved performance in Northern Ireland for the first quarter of 2014.
The results, which have been published today (1 May), return the bank to a pre-tax profit of £17.2m. This compares to a loss of £1m in the same period the year before.
In its report, the bank said the improvement was down to a fall in the amount the organisation had needed to set aside in order to cover bad loans. The amount fell from £16m to less than £3m.
Mortgage approvals were said to have increased by 50% compared to the same three months in 2013, while the underlying performance of the business "significantly improved", with total income 13% higher than the previous year.
Welcoming the news, Danske Bank UK Chief Executive Gerry Mallon, said: "The first quarter of the year has been a particularly strong one for Business Banking. As the economy continues to recover we are seeing an increase in demand from new and existing customers wishing to invest in their businesses to support further growth.
"It's been particularly encouraging to see that the first quarter of 2014 has been our strongest quarter on record for the acquisition of 'new to bank' business customers and, at this stage, the rest of the year also looks very promising.
"In Personal Banking we have continued to focus on growing our mortgage business. In the first quarter of this year we have seen an increase in mortgage applications resulting in an almost 50 per cent increase in mortgage approvals compared to the same period last year."
He concluded: "We can confidently say Northern Ireland is experiencing an economic recovery. It's clear that businesses are starting to invest and look towards growth while Danske Bank's own survey shows that consumer confidence is at its highest level in nearly six years.
"Our focus for 2014 remains firmly on supporting our customers whether they are seeking to buy a home or take their business to the next level. We are in a very strong position to do just that."
(JP/MH)
The results, which have been published today (1 May), return the bank to a pre-tax profit of £17.2m. This compares to a loss of £1m in the same period the year before.
In its report, the bank said the improvement was down to a fall in the amount the organisation had needed to set aside in order to cover bad loans. The amount fell from £16m to less than £3m.
Mortgage approvals were said to have increased by 50% compared to the same three months in 2013, while the underlying performance of the business "significantly improved", with total income 13% higher than the previous year.
Welcoming the news, Danske Bank UK Chief Executive Gerry Mallon, said: "The first quarter of the year has been a particularly strong one for Business Banking. As the economy continues to recover we are seeing an increase in demand from new and existing customers wishing to invest in their businesses to support further growth.
"It's been particularly encouraging to see that the first quarter of 2014 has been our strongest quarter on record for the acquisition of 'new to bank' business customers and, at this stage, the rest of the year also looks very promising.
"In Personal Banking we have continued to focus on growing our mortgage business. In the first quarter of this year we have seen an increase in mortgage applications resulting in an almost 50 per cent increase in mortgage approvals compared to the same period last year."
He concluded: "We can confidently say Northern Ireland is experiencing an economic recovery. It's clear that businesses are starting to invest and look towards growth while Danske Bank's own survey shows that consumer confidence is at its highest level in nearly six years.
"Our focus for 2014 remains firmly on supporting our customers whether they are seeking to buy a home or take their business to the next level. We are in a very strong position to do just that."
(JP/MH)
Related Northern Ireland News Stories
Click here for the latest headlines.
25 June 2013
New NI Bank Notes In Circulation
New bank notes have been released into circulation in Northern Ireland. The £10 and £20 notes are being issued from Danske Bank and will gradually replace the existing Northern Bank notes. The design of the notes remains the same, the only difference is the Danske Bank logo has replaced the Northern Bank logo.
New NI Bank Notes In Circulation
New bank notes have been released into circulation in Northern Ireland. The £10 and £20 notes are being issued from Danske Bank and will gradually replace the existing Northern Bank notes. The design of the notes remains the same, the only difference is the Danske Bank logo has replaced the Northern Bank logo.
15 November 2012
Northern Bank Becomes Danske
Today the Northern Bank officially becomes Danske Bank. The new name comes from the bank’s Danish parent and will see branches across Ireland, Norway, Finland, Latvia, Estonia and Lithuania adopt the new title.
Northern Bank Becomes Danske
Today the Northern Bank officially becomes Danske Bank. The new name comes from the bank’s Danish parent and will see branches across Ireland, Norway, Finland, Latvia, Estonia and Lithuania adopt the new title.
14 January 2004
Rise in NI unemployment figures
The number of people unemployed in Northern Ireland is on the increase according to the latest figures. Labour force statistics released on Wednesday revealed that some 46,000 people are unemployed, a rise of 3,000 on the this time last year.
Rise in NI unemployment figures
The number of people unemployed in Northern Ireland is on the increase according to the latest figures. Labour force statistics released on Wednesday revealed that some 46,000 people are unemployed, a rise of 3,000 on the this time last year.
10 May 2012
Northern Bank To Be Rebranded
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
Northern Bank To Be Rebranded
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
03 January 2007
Bank robbery charges dropped
The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
Bank robbery charges dropped
The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
