Danske Bank in Northern Ireland more than doubled its pre-tax profit in the first half of this year JP_Biz
By John CampbellDanske Bank in Northern Ireland more than doubled its pre-tax profit in the first half of this year.Rising interest rates are generally good for bank profits, enabling banks to increase the "spread" between what they charge borrowers and pay to depositors.She said that despite rising interest rates, mortgages arrears are so far extremely low and in line with those seen pre-pandemic.
"This tells us that the vast majority of our customers are managing to keep up with their payments," she added. "However, we are being proactive, and reaching out to customers on variable rates, tracker products, interest only and those we have identified as being most likely to potentially struggle with higher payments."
She said that new mortgage business has slowed compared to previous years but that there was a pick up in the second quarter of the year compared to the first quarter.
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