Interim report for the first nine months of 2021: Progress continues
Company Announcement No. 9/2021
Company Announcement No. 9/2021
“With a clearer focus on increasing our commercial momentum while reducing costs in a sustainable way, our revised financial targets remain ambitious and will ensure growth beyond 2023. We will focus on building on our strong position and momentum within the LC&I and business customer segments by leveraging our market-leading position to continue to deliver high value to our customers while also supporting their green transition. We will focus on regaining momentum in Personal Customers Denmark, aiming at strengthening our position towards young customers and further enhancing our offerings to customers seeking expert advisory services, digital services and sustainable products. A sharpened focus on partnerships will also ensure that we maintain our growth and improve profitability in our retail banking activities across the Nordic countries.”
Carsten Egeriis
CEO, Danske Bank
We have strengthened our market position within capital markets-related activities during the first nine months, reaffirming our position as the leading Nordic bank within debt capital markets and continuing to capture market shares from our competitors within equity capital markets business. This is supported by our strong position on a global scale within sustainable finance.
Moreover, our efforts to capitalise on the favourable market conditions for increased investment activities are paying off, and the growing momentum comes on top of a more stable development in other income streams, driving total income 4% above the level of the same period last year.
Combined with low impairment charges based on strong credit quality and a 2% decrease in expenses driven by our constant focus on lowering the cost base in general, this led to the return on equity improving from 2.3% in the first nine months of 2020 to 7.3% in the same period this year.
“We continued to see a positive trajectory across our income lines during the first nine months of 2021, as our business delivered good growth in many of our segments. We have stabilised net interest income, compensating for continued margin pressure, while our strong capital markets performance and landmark transactions as well as solid business and retail customer activity ensured a very positive development in net fee income. Our cost initiatives continue to drive down expenses and this remains a priority in order to become an even more efficient bank.”
Stephan Engels
CFO, Danske Bank
We maintain our expectation of a net profit of more than DKK 12 billion in 2021.
Stefan Singh Kailay, Head of Media Relations
Tel. +45 45 14 14 00