Danske bank reports strong q1 2025 profit growth

Danske Bank, a Belfast-based lender, announced a 25% increase in pre-tax profits for the first quarter of 2025, reaching £64 million. This follows a record-breaking year in 2024. The bank's Q1 income rose by 7% to £101 million. Lending increased by 6% to £6.45 billion, and customer deposits grew by 9% to £11.46 billion. Despite this growth, Danske Bank has factored in £5.5 million in loan impairments for the quarter. This is due to global volatility caused by US trade policies. Danske Bank UK chief executive Vicky Davies noted a marked increase in global trading environment volatility in Q2. Lending approvals for first-time buyers in Northern Ireland increased by 50% year-on-year in Q1 2025. The bank approved £185 million in mortgage lending in Northern Ireland and £75 million in Britain through brokers.