Danske Bank cuts Q1 losses 41%

Danske Bank has expressed confidence in its ability to grow its re-branded offering in Ireland, after seeing its operations here cut first-quarter losses by 41% and impairment charges by 65%.

Figures published yesterday show that Danske Bank Ireland — which ditched the National Irish Bank name at the end of last year — made pre-tax losses of €8.8m in the first three months of this year. That was 41% down on the fourth quarter of 2012, which saw a loss of €15m generated.

Impairment charges — to cover bad loans — amounted to €5.5m; down by 65% on the €15.7m put aside in the preceding three-month period.