A busy first half of the year has seen profits at Danske Bank 海角视频 jump by nearly two-and-a-half times.

One of Northern Ireland鈥檚 biggest financial institutions, the bank made 拢109.8 million in the first six months of 2023, an increase from 拢43.8m in the same period in the previous year.

It put the strong performance down to 鈥渋ncreased transactional activity, balance sheet growth and higher 海角视频 interest rates鈥. The results showed the level of loans made by the bank in the first half increased by more than 拢200 million on an annual basis to 拢5.6 billion.

The hefty profit hike comes during a period of high inflation and accompanying interest rate increases, with worries are growing that borrowers, particularly mortgage holders, are struggling with rising costs.

So far, Danske Bank said mortgage arrears are still 鈥渆xtremely low鈥 and in line with pre-pandemic levels.

鈥淭his tells us that the vast majority of our customers are managing to keep up with their payments,鈥 Vicky Davies CEO of Danske Bank 海角视频, said. 鈥淗owever, 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.鈥

Additionally, the bank said activity in the housing market appears to have picked up again with home buyers still keen to borrow.

鈥淲hile there has been a slowing down in new mortgage business volumes compared to previous years, mortgage approvals in quarter two have more than doubled compared to quarter one. This indicates that despite rising interest rates, a healthy level of demand is likely to continue across the year.鈥

For those coming off fixed rate mortgage deals and facing a hike in payments in light of higher interest rates, the bank said it is supporting lenders.

鈥淚nterest Rate rises set by the Bank of England are of increasing concern for mortgage holders. At Danske Bank we are working to support customers beyond the 海角视频 Government鈥檚 Mortgage Charter, with our own additional measures that further assist those with money worries.鈥