Investor Presentation - First Nine Months 2022
Investor Presentation - First nine months 2022
Danske Bank
Revised net profit outlook for 2022*: Adjusted for additional provision for the Estonia
matter and goodwill write down, we now expect net loss better than DKK 5.5 bn
Income
kr
Revised
27 Oct 2022
Expenses
Revised
27 Oct 2022
We continue to expect income from core banking activities to be higher in 2022, as higher net interest income
driven by good economic activity and higher interest rates will more than offset lower capital market and
investment-related fee income.
Net income from insurance business and trading activities are expected below normalised levels based on
significantly lower income in the first nine months of the year and a stabilisation in income in the fourth quarter
subject to market conditions. The degree of uncertainty is higher than usual.
Including the booking of the provision for the Estonia matter, the impact from the solution to the debt collection
case and goodwill write down, total expenses are expected to be around DKK 41.7 billion.
Excluding the provision for the Estonia matter, the impact from the solution to the debt collection case and
goodwill write down, we expect costs in 2022 to reflect our continued focus on cost management and to be
around DKK 25.5 billion, including sustained elevated remediation costs.
Impairments
Maintained
kr
Net profit *
Revised
27 Oct 2022
* Note - The outlook is subject to uncertainty and depends on economic conditions.
Given our overall strong credit quality, loan impairments are expected to be below normalised level, including
the solution to the debt collection case.
We have revised the outlook for net profit of DKK 10-12 billion to a net loss better than DKK 5.5 billion due to
booking of additional provision for the Estonia matter and goodwill write down. The outlook includes the gains
from MobilePay, Danske Bank International and Danica Norway.
For our 2023 financial ambitions, we maintain our ambition of a RoE of 8.5 to 9 percent in 2023.
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