Investor Presentaiton
Investor Presentation - First quarter 2023
Danske Bank
NII: Continued positive margin development; deposit volumes remain stable at an
elevated level
Highlights
Net interest income continued the positive trend,
as higher central bank rates drove the improved
deposit margin mainly at PC DK and BC
Lending volumes contributed positively Y/Y,
particularly from business and corporate
customers
Higher funding costs along with timing effects
due to notice period in PC Nordic impacted
lending margin
➤ Lending margin Y/Y affected by volume growth to
higher rated customers coupled with floored
credit facilities as rates have turned positive.
Repricing initiatives for business customers
helped stabilise lending margin Q/Q
Other impacted by interest rate risk
Net interest income Q123 vs Q122 (DKKm]
5,591
189.
-782
-28
26
4,067
Deposit margin development (bps]
PC
2.18
BC
1.94
1.49
1.44
2.2
-1,040
8,023
2.0
1.8
1.6
1.4
1.2
1.0
0.88
0.8
0.76
0.66
0.6
0.48
0.40
0.51
0.4
0.26
0.38
0122 Lending Lending Interest Deposit Deposit Other
volume margin related volume margin
fees
0123
0.2 0.18'
0.0
0122
0222
0322
0422
Q123
Net interest income Q123 vs 0422 (DKKm)
management costs which from 2023 are booked
as NII
7,442
20
29
80
-115.
1.5
Lending margin development (bps]
LC&I
-668
1.12
1.14
8,023
1.10
1,293
1.02
0.96
0.95
1.0-
0.85
0.85
BC
0.84
0.79
0.72
0.68 LC&I
0.62
PC
0.5
Unchanged sensitivity but assumed at lower end
of DKK 7-800m range (per 25bps uplift) due to
migration to savings products
0422
Lending Lending Interest Deposit
volume
related
margin
volume
fees
Deposit Other
margin
0123
0.0
Q122
0222
0322
0422
0123
10View entire presentation