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.
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