Investor Presentation - FY 2022
Investor Presentation - FY 2022
Danske Bank
Impairments: Continually strong credit quality and individual reversals, while macro
model adjustments and prudent buffers led to a loan loss ratio of 8bps* in 2022
Highlights
•
Credit quality remains strong and the implications of the worsening macro
backdrop have not led to any material downward migration in the portfolio with
single-name impairments resulting in net reversals
As the macro outlook has been updated to reflect the uncertainty and
increased downside risk from inflation and interest rates, the macro model
charges resulted in additional DKK 0.8bn booked in Q4
Total allowance stands at DKK 19.6bn and includes PMAs of DKK 6.6bn, as
additional overlays of DKK 0.6bn were added in Q4 to mitigate any tail risks not
evident in the portfolio or captured through our macro models
Impairment charges by category (DKK bn]
4.3
Credit quality deterioration: oil & gas
Credit quality deterioration: outside oil & gas
PMAS
Debt collection one-off
Macro models
1.4
0.7
1.0
0.5
1.1
0.8
1.7
0.5
0.2
0.8
0.2
0.4
0.6
0.2
0.8
-0.4
-0.2
Q1 20 Q2 20
Q3 20 Q4 20
Q1 21
Q2 21 Q321
-0.2
Q421
Q1 22 Q2 22 Q3 22
Q4 22
Post Model Adjustments (PMAs)
4.0
2019
Allowance account by stages (DKK bn]
Stage 1 ECL
Stage 2 ECL
Stage 3 ECL
Stage 3 net exposure, % of total (rhs)
6.6
6.4
6.3
DKK bn
%
0.8
Agriculture
30
1.36
0.9
CRE
1.8
25
1.34
22.6
1.5
Construction &
21.9
20.4
Building materials
2.3,
19.8
19.8
19.6
20
2.7
18.8
1.3
1.32
0.2
0.5
3.1
3.1
3.3
3.0
Oil & Gas
5.9
7.4
6.8
15
1.30
1.7
1.4
6.7
6.8
Personal Customers
7.1
8.1
10
Others
1.1
13.2
12.9
12.4
2.1
Model changes
5
9.9
9.9
0.96
8.7
8.3
0.9
о
0.00
2020
2021
2022
2019
2020
2021
Q1 22
Q2 22
Q3 22
Q4 22
31
* Including DKK 650m related to the accelerated solution of the debt collection case.View entire presentation