Investor Presentaiton
Danske Bank
Investor Presentation - First quarter 2023
Fossil fuels (coal, oil and gas) exposure
Key points, Q1 23
The current exposure to fossil fuels and includes customers involved in production, refining, and distribution (including shipping) of oil and gas as well as utilities producing heat or
power with coal
Exposure towards oil majors (upstream oil and gas) has decreased 25% from 01 last year and exposure is down by 62% compared to end 2020. The exposure development is
aligned with the Group's 2030 climate target of reducing financed emissions by 50% from oil majors. The main risk on oil related exposures lies with exposures other than oil
majors, and since Q1 last year, these net exposures have been brought down 13% and are down by 30% from end 2020
Exposures shown on this page is to utility customers with any coal-based power production [DKK 30.7 bn.] and hereof more than 5% of revenues from coal fired power
production (2.6 bn.). Exposures have been somewhat volatile the past year, due to short-term facilities to help customers manage market risk due to energy price volatility, and
net exposures are now 6% lower than a year ago
Customers' transition plans are continually being assessed, and our customers in the distribution and refining segments and utility customers are generally progressing well on
the transition. For instance, by refineries switching to biofuels or by gas stations investing in infrastructure for charging of electric vehicles. Also, for most customers, the use of
coal is limited to a few remaining production facilities which are expected to phase-out towards 2030
Group gross credit exposure
(DKK 2,575bn]
Fossil fuels exposure
Oil-related net credit exposure development, DKK bn.
Segment
Net exposure (DKK m)
Of which covered by collateral
Offshore and services
Oil Majors
Crude, gas and product
tankers
2,945
8.4
30%
2.0%
Distribution and refining
Oil-related exposure
Oil majors
9,161
9,907
7.1
2,695
Offshore and services
5,870
Power and heating utilities
30,715
with any coal-based
production
Hereof customers with more
than 5% revenue from coal
2,620
Fossil fuels exposure
■ Other
Total fossil fuel exposure
62%
5.9
2.7
3.5
51,386
2020 04
2022 Q1
2022 02
2022 03
2022 04
2023 01
36View entire presentation