Investor Presentation - First Nine Months 2022
Investor Presentation - First nine months 2022
Danske Bank
Expenses: Underlying progress on efficiency despite continually high remediation costs;
significant impact from additional provision and goodwill write-down
Highlights
Progress on structural cost take-out with underlying costs down 4%
QoQ when adjusting for the one-off costs related to debt collection
legacy case
Number of FTEs continued to decline. Adjusting for AML/FCP, FTES
are down 8% from peak in 03 20, reflecting efficiency gains and
underlying improvement
Other costs up due to a partly normalisation of travelling, higher
amortisation costs and IT expenses, including a one-off related to re-
contracting and higher energy costs for servers
Expenses, 9M-22 vs 9M-21 (DKKm)
35,197
14,000
19,570 -1,627
328
18,874
204
22
219
357
140
87
9M-21 One-offs Transfor- AML/ Staff cost
mation Compliance ex. perf.
Perf. based Legacy
comp. and remediation
comp.
sev.
Resolution IT & other 9M-22 (pre Danica Provision 9M-22
fee
GW and
provision)
Goodwill [Estonia
matter)
FTES (#,thousand]
Expenses, Q3-22 vs Q2-22 [DKK m)
FTEs
AML/Financial Crime Prevention FTES
> debt collection one-off
20 119.5
19.3
18.9
18.8
18.8
14,000
19
18.5
18.4
18.1
17.9
-1,627
6,777
18
6,421
6
600
263-
89
54
25
13
144-
$600
17
4
3.5
3.6
3.6
3.1
3.1
3.1
3.1
3.2
3.3
3
2
1
O
0320
0420 0121 Q221 0321 0421 0122 Q222 0322
6.177
22,404
02-22 One-offs
Transfor- AML/ Staff cost
mation Compliance ex. perf.
comp.
Perf. based Legacy
comp. and remediation
Resolution IT & other 03-22 [pre
fee
GW and
Danica
goodwill
sev.
provision]
Provision
(Estonia
related]
03-22
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