October 31, 2006

Press release: Net profit of DKr9,785m for the first nine months of 2006
Danske Bank has today announced its financial results for the first nine months of 2006. The nine-month report can be viewed at www.danskebank.com/reports.

Highlights are shown below:

• Better than expected net profit of DKr9,785m, against DKr8,951m for the first nine months of 2005
• Net profit per share up 10% despite expenses for the integration of Northern Bank and National Irish Bank
• Income up by 7% to DKr27,435m
• Stable cost/income ratio of around 52%
• Net positive entry for credit loss expenses of DKr554m, against a net positive entry of DKr288m during the same period last year
• Growth in bank lending of 23%
• The Group is raising its profit guidance for full-year 2006 on the basis of the results for the first nine months of the year. Consequently, the pre-tax profit for 2006 is expected to match the record level in 2005, which included considerable one-off income.
  
  

Commenting on the results, chief executive Peter Straarup said, "The result is better than we expected and is driven by a positive trend in the pre-tax profit of our banking activities and Danske Markets. The strong growth in lending in all our markets continues, and I consider the result robust in view of the fluctuations in the financial markets and the substantial resources we’ve put into the migration of IT systems at Northern Bank and National Irish Bank. These factors combined have led us to raise our profit guidance for 2006."

Contacts:

• 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
  
  

View Danske Bank’s interactive accounts at www.danskebank.com/reports.​