Investor Presentaiton
Investor Presentation - First half 2022
Danske Bank
Trading: Continued support to customers through extraordinary fixed income market
conditions; trading income negative in Q2, driven by losses in Rates & Credit at LC&I
Highlights
LC&I
•
Extraordinarily high volatility, wider credit spreads and
lower liquidity in core Nordic fixed income markets led to
losses in fixed income market making inventory but also
trading losses as spreads used for hedging widened
•
Somewhat mitigated by higher income in Currencies
Net trading income (DKK m)
Group Functions
North. Ireland
BC
PC
XVA
LC&lex.xVA
2,291
127
177
136
94
565
Northern Ireland
109
1,758
105
•
Rate increases drove mark-to-market movements on the
hedging portfolio
175
243
867
220
Group Functions
126
-105
Bond portfolios negatively affected by market value
-209
adjustments of Danish mortgage bond investments
-99
•
Note that H1-21 included a gain of DKK 0.2 bn related to
the sale of shares in VISA
137
134
116
29
66
-242
-143
-130
-740
-390
H1-22
H1-21
Q122
02-22
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