Financial results first nine months 2020


Return on equity after tax

DKK 3.1 bn

Net profit

"Despite a challenging environment, we saw steady progress in several areas in the first nine months, and we have recently revised our net profit outlook upwards. Our underlying business remained stable, and we saw good customer activity resulting in stable income, driven by most of our Nordic markets and large corporates. "
Chris Vogelzang

Chief Executive Officer

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Find the most relevant files

  • 04. nov 2020Interim report - first nine months 2020
  • 04. nov 2020Conference call presentation - first nine months 2020
  • 04. nov 2020Fact Book Q3 2020
  • 04. nov 2020Debt investor update Q3 2020
  • 08. jan 2021Script for pre-close call Q4 2020
  • 05. nov 2020Speech from conference call - first nine months 2020
  • 04. nov 2020Audio from conference call - first nine months 2020
  • 02. nov 2020Restatement of Group fee breakdown
  • 04. nov 2020One-off items Q3 2020
  • 04. nov 2020Financial statements Q3 2020
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  • 04. nov 2020Internal Capital Adequacy Assessment - first nine months 2020
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  • 05. feb 2020Risk Management 2019
  • 05. feb 2020Sustainability Report 2019
  • 05. feb 2020Sustainability Fact Book 2019
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Outlook for 2020

The outlook has been updated. As stated in company announcement no. 11 of 27 October 2020, we now expect a net profit of DKK 4-4.5 billion. Previously, we guided for a full-year net profit of at least DKK 3 billion.

The upward revision is based on generally improved developments in the financial markets, continually good progress in the underlying business as well as lower costs. We now expect costs, including the planned costs for the Better Bank transformation, to amount to around DKK 28 billion, against our previous guidance of DKK 28-29 billion.

We maintain our ambition for a return on shareholders’ equity of 9-10% in 2023.

The outlook is subject to uncertainty and depends on economic conditions, including government support packages.

Facts & figures

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



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eBanking, Mobile and Tablet Banking customers

One-off items

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Financial accounts

Income statement
Balance sheet
Financial highlights
Key figures
Income statement
Balance sheet
Financial highlights
Key figures

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