2024 1st Quarter-3. Quarterly financial results

Profit after tax of DKK 1,779 million and return on equity of 18.0%

The financial statements for the first nine months of 2024 show a very satisfactory net profit of DKK 1,779 million and a return on equity after tax of 18.0%. Overall, core revenue was 2% higher than in the first nine months of 2023; This was supported by both higher net interest income and net fee income. Compared to the same period last year, we recorded a reasonable increase in business volume; including a very satisfactory increase in assets under management of DKK 11 billion, corresponding to 17%, as well as satisfactory credit growth of DKK 3.5 billion, or DKK 6. %.

For the sixth consecutive quarter, continued strong credit quality among the Bank’s retail and business customers enabled us to reverse impairment charges. As a result, the total positive profit impact from impairment charges in the first nine months of 2024 was DKK 38 million. Another consequence of our very strong retail and commercial customers is that we are suffering from credit impairment charges, etc. Therefore, we now expect a profit impact of around DKK 0 million for the entire year. Against this background, we increased our full-year forecast for profit after tax on 23 October 2024 to a range of DKK 2,100 – 2,300 million,” says CEO Lasse Nyby.

Please direct any questions regarding this release to Chief Executive Officer Lasse Nyby by telephone. +45 9634 4011 or Rune Brandt Børglum, Head of Investors Relations, tel. +45 9634 4236.

Rune Brandt Børglum
Head of Investor Relations