Announcement
of financial results 2005

February 9, 2006

Press release: Danske Bank reports a net profit of DKr12,822m for 2005
Danske Bank has today announced its financial results for 2005. The announcement of financial results and the annual report can be viewed at www.danskebank.com/reports. Highlights are shown below:

  • Danske Bank Group realised a better-than-expected net profit of DKr12,822m, against DKr9,317m in 2004. This is the best result in the history of the Group.
  • Earnings per share increased 42%.
  • Income rose 20% to DKr34,891m.
  • The cost/income ratio improved from 52.7% in 2004 to 52.2%.
  • Credit loss expenses amounted to a net positive entry of DKr1,096m, against a charge of DKr759m in 2004.
  • Bank loans and advances rose 35% from DKr615bn in 2004 to DKr830bn in 2005.
  • The Board of Directors is proposing that the general meeting approve a dividend of DKr10.00 per share, corresponding to a total dividend payment of DKr6,383m. The dividend equals 50% of the net profit of the Group. In 2004, the Group paid out a dividend of DKr7.85 per share.
  • The integration of Northern Bank and National Irish Bank is going according to plan, and the banks are developing in line with expectations.
  • Excluding the considerable one-off income in 2005, the profit before credit loss expenses is expected to increase moderately in 2006. The pre-tax profit for 2006 is expected to be lower than in 2005.

Commenting on the results, Danske Bank’s chief executive, Peter Straarup, said: "2005 was a particularly good year for all the business areas of the Danske Bank Group. Customer demand for our products and services continued to rise, especially within lending and securities trading. The excellent result is based on a high level of activity not only in Denmark but also in Sweden, Norway, Northern Ireland and the Republic of Ireland. We expect the healthy growth in business to continue in 2006."

Contacts:
Thursday, February 9, from 2.00pm:

  • Peter Straarup, Chairman of the Executive Board,
    tel. +45 33 44 01 07
  • Tonny Thierry Andersen, Chief Financial Officer,
    tel. +45 33 44 11 47
  • Martin Gottlob, Head of Investor Relations,
    tel. +45 33 44 27 92

The Annual Report for 2005 will be presented at a press conference at 2.00pm. It is possible to view the presentation at www.danskebank.com

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