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Interim report – first half 2023

"In the first half of the year, we improved our profitability and continued to make progress towards meeting our ambitions for 2023. The solid increase in total income of 34% was driven mainly by strong net interest income and a significant improvement in net trading income. Net fee income decreased due to the general slowdown in the housing market and uncertainty in the financial markets, while costs remained stable and loan impairments remained at a very low level on the back of continually strong credit quality. "

Carsten Egeriis

Chief Executive Officer

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Outlook for 2023

We expect net interest income to continue to grow on the basis of the announced central bank rate hikes and our commercial momentum, while fee income is expected to be below the level in 2022. Trading income is expected to be impacted by the release of a loss of DKK 0.8 billion from other comprehensive income on the CET1 FX hedge related to the sale of our personal customer business in Norway, which is subject to regulatory approval. Income from insurance is expected to be lower than the normalised level due to negative valuation effects and higher claims.

We expect costs in 2023 to be in the range of DKK 25-25.5 billion, reflecting our focus on cost management and despite the inflationary pressure. The outlook includes continually elevated remediation costs for approximately DKK 1.1 billion.

We expect loan impairment charges of up to DKK 1.5 billion (8 bp) due to continually strong credit quality, recoveries in the first half of the year and lower-than-expected impact in the first half from model-driven charges related to weaker macroeconomic outlook.

Net profit is expected to be in the range of DKK 18.5-20.5 billion, including the impact of the new Danish bank tax and further positive tax-related one-offs.

The outlook is subject to uncertainty and depends on economic conditions.

Facts & figures

Our financial Fact Book is updated every quarter. It covers financial statistics, key statistics and macroeconomics.



number of branches



eBanking, Mobile and Tablet Banking customers

One-off items

(DKK millions)Q1 2023Q2 2023Q3 2023Q4 20232023   
Reported pre-tax profit6,9546,01800 
Transaction costs and prudent valution related to Personal Customers Norway
Gain from sale of shares taken over in connection with a loan restructuring
0 327 0 0
One-off items, in sum0-36600
Adjusted pre-tax profit6,9546,38400
 Tax one-off: Reversal of provision reletated to exit of international joint taxation scheme
 (DKK millions)Q1 2023Q2 2023Q3 2023Q4 20232023   
Net interest income00000
Net fee income00000
Net trading income0327000
Net income from insurance business00000
Other income00000
Revenues, in sum0327000
Profit before tax, Non-core000
Effect on pre-tax profit0-366000
 Effect of tax one-offs  576   

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Financial accounts

Income statement
Balance sheet
Financial highlights
Key figures

Look up historical data on our income statement, balance sheet and key figures going back to 1998.

Download financial accounts going back to Q1 2004
Download financial accounts from 1998-2004

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If you would like more information about Danske Bank's activities, please contact us at Investor Relations. Direct contact information can be found below, while general inquiries can be directed to