Interim report for the first nine months of 2023
Strong progress continues in a challenging operating environment based on good customer activity and strong credit quality.
Net profit of DKK 15.5 billion for the first nine months of 2023.
Strong progress continues in a challenging operating environment based on good customer activity and strong credit quality.
Net profit of DKK 15.5 billion for the first nine months of 2023.
In the first nine months on the year, we delivered a strong core banking performance, resulting in a 33% increase in total income. Our strong net interest income benefited from the normalisation of rates and our repricing initiatives, while net fee income remained resilient due to increased customer activity among business customers and in the capital markets, largely outweighing the effect of the continually subdued housing market.
Stephan Engels
Our cost/income ratio of 48.7% is underpinning our enhanced profitability and persistent cost focus. Due to our strong credit quality, impairments remain low, even though some cyclical sectors are starting to be impacted, and macro models are reflecting the uncertain outlook.
Our solid financial results, well-capitalised balance sheet and funding position with a strong deposit base continued to allow us to help our customers and other stakeholders navigate the new normal of macroeconomic uncertainty and higher rates.CFO, Danske Bank
Stefan Singh Kailay, Head of Media Relations
Tel. +45 45 14 14 00