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Interim report – first nine months 2023

"We continue to see improved commercial momentum in our retail business in Denmark on the basis of attractive and competitive offerings for our customers in our Mobile Banking app, which provide a simple and convenient way of handling their day-to-day banking business. Positive interest rates on salary and budget accounts, rising interest rates on several savings accounts and flexible home finance offerings drive higher deposit volumes as well as an increase in bank lending volumes and mortgage lending market share in Denmark."

Carsten Egeriis

Chief Executive Officer

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Outlook for 2023

The outlook for 2023 is narrowed as we now expect net profit for 2023 to be in the range of DKK 19.5-20.5 billion, including different one-off items recognised during the first nine months of 2023 and the impact of the new Danish bank tax.

We expect net interest income to continue to grow on the basis of the announced central bank rate hikes and our continued efforts to drive commercial momentum.

Net fee income is expected to be below the level in 2022.

Net trading income is expected to be at a normalised level including the release of a loss from Other comprehensive income on the CET1 FX hedge attributable related to the sale of our personal customer business in Norway.

Income from insurance business is expected to be lower than the normalised level due to negative valuation effects, higher claims and a provision for potential customer compensation.

We maintain our outlook for operating expenses in 2023 to be in the range of DKK 25-25.5 billion, reflecting the effect of our continued focus on cost management and despite the inflationary pressure. The outlook includes continually elevated remediation costs for approximately DKK 1.1 billion.

We expect loan impairment charges of up to DKK 1 billion due to continually strong credit quality, recoveries in the first half of the year, a few single-names and a lower-than-expected impact in the first nine months of the year from modeldriven charges related to the weaker macroeconomic outlook.

The outlook is subject to uncertainty and depends on economic conditions.

Facts & figures

Our financial Fact Book is updated every quarter. It covers financial statistics, key statistics and macroeconomics.



number of branches



eBanking, Mobile and Tablet Banking customers

One-off items

(DKK millions)Q1 2023Q2 2023Q3 2023Q4 20232023   
Reported pre-tax profit6,9546,0186,475
Transaction costs and prudent valution related to Personal Customers Norway
Gain from sale of shares taken over in connection with a loan restructuring
0 3270 
Interest compensation: Final tax decision regarding tax paid in previous years 0307  
 Release of loss from OCI related to the CET1 FX hedge attributable to PC in Norway 0 0-786   
Provision for potential customer compensation case in Danica 0 0-250   
 Sale of Danske IT to Infosys 0 0 104  
One-off items, in sum0-366-625

Adjusted pre-tax profit6,9546,3847,100

 Tax one-offs:
  576 670  
 (DKK millions)Q1 2023Q2 2023Q3 2023Q4 20232023   
Net interest income0030700
Net fee income00000
Net trading income0327-78600
Net income from insurance business00-25000
Other income0010400
Revenues, in sum0327-62500
Profit before tax, Non-core000
Effect on pre-tax profit0-366-62500
 Effect of tax one-offs  576 670  

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Financial accounts

Income statement
Balance sheet
Financial highlights
Key figures

Look up historical data on our income statement, balance sheet and key figures going back to 1998.

Download financial accounts going back to Q1 2004
Download financial accounts from 1998-2004

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If you would like more information about Danske Bank's activities, please contact us at Investor Relations. Direct contact information can be found below, while general inquiries can be directed to