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Annual report – financial results 2023

"Following our changed fixed income strategy, net trading income increased significantly in 2023, while fee income was resilient due to activity-based fees and increasing capital markets activity, even though housing market activity remained subdued. With our continued efforts to improve efficiency and focused cost control, costs continued the downward trend. Together with strong credit quality resulting in low impairments, this means that we have significantly strengthened our profitability."

Carsten Egeriis

Chief Executive Officer

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Outlook for 2024

Total income is expected to grow in 2024, driven by higher core income, our continued efforts to drive commercial momentum and in line with our financial targets for 2026. Income from trading and insurance activities will be subject to financial market conditions.

We expect operating expenses in 2024 to be in the range of 26–26.5 billion, reflecting increased investments in line with our financial targets for 2026 and continued focus on cost management. The outlook includes non-recurring items of approximately DKK 0.6 billion related to the relocation to the new domicile and minor costs for the divestment of the personal customer business in Norway.

Loan impairment charges are subject to an elevated level of geopolitical and macroeconomic uncertainty and are expected to reflect our assumptions in our financial targets for 2026 of approximately 8 basis points p.a.

We expect net profit to be in the range of DKK 20-22 billion.

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 profit6,9546,0186,4757,235
Transaction costs and prudent valution related to Personal Customers Norway
0-69300 -693
Gain from sale of shares taken over in connection with a loan restructuring
0 3270 0327
Interest compensation: Final tax decision regarding tax paid in previous years 0307 0 307
 Release of loss from OCI related to the CET1 FX hedge attributable to PC in Norway 0 0-786  0 -786
Provision for potential customer compensation case in Danica 0 0-250  0 -250
 Sale of Danske IT to Infosys 0 0 104 0104 
 Interest on tax related for previous years 0 0 0 -85 -85
One-off items, in sum0-366-625,85-1,076
Adjusted pre-tax profit6,9546,3847,1007,320
 Tax one-offs:
  576 670 0 1,246
 (DKK millions)Q1 2023Q2 2023Q3 2023Q4 20232023   
Net interest income00307-85222
Net fee income00000
Net trading income0327-7860-459
Net income from insurance business00-2500-250
Other income001040-589
Revenues, in sum0327-625-85-1,076
Profit before tax, Non-core000
Effect on pre-tax profit0-366-625-85-1,076
 Effect of tax one-offs  576 670 01,246 

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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