Danske Bank has today announced its financial results for the first half of 2006. The report can be viewed at www.danskebank.com/reports.
Highlights are shown below:
- The Danske Bank Group recorded a net profit of DKr6,087m, against a net profit of DKr5,984m for the first half of 2005. The result matches expectations.
- Larger-than-expected profit increases at Banking Activities and Danske Markets.
- Net profit per share up 2% despite integration costs.
- Total income rose 6% to DKr17,790m.
- The cost/income ratio rose from 51.6% to 54.7%.
- Net positive entry for credit loss expenses of DKr443m, against DKr225m in the first half of 2005.
- Bank lending rose by DKr130bn, or 23%, from the end of June 2005 to DKr699bn at the end of June 2006.
- Postponement of the booking of risk allowance due to negative return on investments at Danica Pension.
- In view of the net profit for the period, expectations for full-year earnings are, on the whole, unchanged.
Thursday, August 10, from 2.00pm CET:
- 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