First quarter of 2023
Strong start to the year driven by progress across the business and strong credit quality in volatile environment. Net profit of DKK 5.2 billion for the first quarter of 2023.
Strong start to the year driven by progress across the business and strong credit quality in volatile environment. Net profit of DKK 5.2 billion for the first quarter of 2023.
The first quarter was marked by continually low macroeconomic visibility and thus by high volatility in the financial markets. Despite these market conditions, our diversified business model and core activities continued to deliver. Net interest income increased 43% in the first quarter – and for the tenth consecutive quarter – as a result of higher interest rate levels and our repricing initiatives.
Stephan Engels
Net fee income stayed sound, despite lower activity on the housing market. We also saw our income from trading and insurance activities normalise as market conditions improved.
Credit quality continued to be strong, while we remain cautious, as seen by our full-year guidance on impairments.
Our efforts to increase efficiency continued to result in a decrease in underlying costs, and as reflected in our early, positive adjustment of our full year guidance, we remain confident in our ability to help our customers navigate the current low visibility environment.CFO, Danske Bank
Stefan Singh Kailay, Head of Media Relations
Tel. +45 45 14 14 00