Danske Bank pre-tax profits slump by over 80% as pandemic takes toll
Pre-tax profits at Danske Bank slumped by over 80% to £13.1m last year as the Covid-19 pandemic took its toll.
nnouncing its full year results on Thursday, the bank said operating profit was down 36% from £90.8m to £58.5m.
But after the bank had made £45.4m allowances for bad debts – known as loan impairments – pre-tax profits were down 85% from £90.8m in 2019 to £13.1m.
Read More: Danske Bank pre-tax profits slump by over 80% as pandemic takes toll