Danske Ireland losses at €17.4m

Danske Bank Ireland made a pre-tax loss of €17.4m for the second quarter of the year, which compares with a loss of €8.8m for the first three months of 2013 and a loss of €15m for the second quarter of 2012.

Impairment charges for the period were €15.4m, while total income increased to €15.7m. Costs were down 1% over the period.

These results are for Danske Bank’s core operations only. It separated all non-core assets last year. Head of Danske Bank Ireland, Terry Browne, said, “Having reorganised the business in 2012 we continue to see the benefits of those changes reflected in the performance of our key target business areas in corporate & institutional banking and private banking. Total income increased on the previous quarter with non-interest income now accounting for 40% of the bank’s income as compared with 34% in 2012.