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Danske Bank has reported an 80% rise in pre-tax profit to £186m in 2023.

It says the increase was partly due to higher interest rates, which the Bank of England voted to maintain unchanged at 5.25% on Thursday.

Interest rates rose from 3.5% at the start of 2023 to 5.25% at the end of last year and experts widely believe rates are at their peak.

Danske Bank UK chief executive Vicky Davies said that could mean a pick-up in the housing market this year.

"I think our feeling is the direction of travel is that we will see more activity in the mortgage market, in terms of house sales and mortgage lending," she said.

"The degree to which this happens is always hard to judge but that's our expectation: a little bit more activity and buoyancy in the year ahead, noting the challenges, as always, for consumers - and uncertainty."

While 80% of Danske mortgage customers opted for a fixed rate, Ms Davies said there had been an increase in the number of people choosing a two-year fixed rate over a five-year fixed rate, reflecting expectations that interest rates have peaked.

She also said she would like sustainability to be top of the agenda for incoming ministers returning to Stormont.

"Northern Ireland has set ambitious climate targets for 2030. I think it's really going to be vital that we have the incentives and the support to help businesses and consumers to transition and I hope that's one of the priorities on the executive's to-do list," she added.