Danske Bank Posts 5% Profit Increase for 2024

Danske Bank UK reported a pre-tax profit of £160.4 million for the first nine months of 2024, marking a 5% increase from the previous year. Total income rose to £283.2 million, driven by a 5% growth in both loans and deposits, totaling £6.2 billion and £11 billion respectively. The bank experienced a significant reduction in loan impairments, reflecting improved economic conditions, and has approved over £490 million in business lending. CEO Vicky Davies emphasized the bank's commitment to supporting customers amid ongoing cost of living challenges. Additionally, mortgage lending surged over 30% year-on-year, reaching £580 million, as demand for housing persists. Danske Bank also opened over 1,000 new small business accounts and is offering two years of fee-free banking for new small business customers.