(GBP millions) Full year
2022
Full year
2021
Index
22/21
Total income 271.5 198.2 137
Expenses -148.3 -151.6 98
Profit before loan impairment charges 123.2 46.6 264
Loan impairments -19.9 14.7
Profit before tax 103.3 61.3 169
Loans (end of period) 5,701 5,479 104
Deposits (end of period) 10,638 10,589 100


  • Profit is much improved year-on-year, with a positive income performance driven by increased transactional activity and higher UK interest rates. Impairment levels remain low.
  • In 2022 we supported the business community in Northern Ireland through over £850 million of business lending approvals, and we provided over £590 million in mortgage lending approvals to local people and families.
  • Today we are announcing the creation of a £35 million Agri sustainability fund to encourage and support agri-business customers who want to introduce new more sustainable technologies into their working practices.

Vicky Davies, CEO of Danske Bank UK, commented:

“I am pleased to announce a strong set of financial results for 2022, with a profit before tax of £103.3 million.

“A strong financial performance means we are well positioned to continue to support customers through the current challenging economic conditions, as well as being able to invest in new products and services that improve customer experience.

“In response to inflationary pressures, the Bank of England raised interest rates throughout 2022, from 0.25% at the start of the year, to 3.5% at year-end. At Danske Bank we are very aware that the transition to a higher interest rate environment, alongside higher energy bills and general cost of living, is challenging for many customers.

“We are staying close to customers, providing support for those who need it, whilst continuing to help businesses pursue growth opportunities and people buy or move home. In Personal Banking, we have over 500 colleagues across our local branches, mortgages teams and contact centres dedicated to looking after the needs of customers. In Corporate & Business Banking, we have a team of around 80 skilled and experienced relationship managers, by far the largest of any local bank, who are ensuring they are there for our business customers and supporting them with the challenges they may be facing.

“In 2022 we proactively outreached to over 16,000 customers offering guidance and support directly relating to their financial circumstances. We created a Money Worries online hub for personal customers and a Rising Cost of Doing Business online hub for small business customers, offering advice and assistance, including a customer call back service for those who want to talk to one of our specialist advisers. In addition, across the year we continued to raise our rates of interest paid on savings accounts.

“I am also very proud that in 2022 colleagues across the bank volunteered to deliver our Money Smart financial education programme in schools, reaching over 7,600 young people throughout Northern Ireland.

“Transaction levels in the housing market remained at healthy levels in the first half of 2022, but there was a slowing of activity in the latter months of the year. We provided over £590 million of mortgage lending approvals in Northern Ireland, helping thousands of people and families to realise their home owning ambitions. 97% of these customers opted for a fixed rate mortgage product, with 70% of them choosing a 5 year-fix. More than half of the new mortgage lending we approved across the UK was through our carbon neutral mortgage product.

“We expect the local mortgage market to slow in 2023. However, given the relatively limited supply of housing in Northern Ireland, versus other parts of the UK, we believe demand will remain at sustained, albeit reduced, levels.

“The labour market remains strong and at present we are not seeing any notable increase in customer distress regarding mortgage repayments. When customers took their mortgage with us, where appropriate, we carried out affordability tests that factored in the potential stretch on their finances that rate increases would cause. Levels of distress may change, and we are well prepared to support customers when they need us.

“2022 was a challenging year for businesses on a number of fronts - such as rising energy costs, borrowing costs, staff retention issues, Brexit, supply chain challenges and changes in demand. However, many businesses in Northern Ireland are experienced at dealing with uncertainty, and we are well placed to support them. In 2022 we approved over £850 million of business lending. Lending approvals for small businesses were up 25% year-on-year and we provided over £100 million of lending approvals to support new corporate customers.

“We remain conscious of our important role in financing the transition to a more sustainable future. We have set ourselves a target of being operationally Net Zero by 2030 - but it will be through supporting the sustainability approach of our customers, that we will make the greatest impact. In addition to approving over £650 million in sustainable finance to businesses and consumers in 2022, we supported another 55 local business customers through the Climate Action Programme that we co-developed with Business in the Community.

“To further strengthen our work on the sustainability agenda, I am pleased to announce today the creation of a £35 million Agri sustainability fund to encourage and support agri-business customers who want to introduce new more sustainable technologies into their working practices and make the transition to net zero.

“With overall annual economic output in Northern Ireland expected to fall this year, our primary focus will remain on being there to support customers, the community and the wider economy.”