Investor Presentation - FY 2022
Investor Presentation - FY 2022
Danske Bank
Expenses: 2022 costs significantly impacted by legacy cases, incl. settlement of Estonia
matter; 2023 trajectory underpins the significant progress on underlying cost efficiency
Highlights
Progress on structural cost take-out mitigates impact from
AML/compliance ramp-up, legacy remediation as well as higher
resolution fund contribution.
Number of FTEs continued to decline, underpinning efficiency gains and
underlying improvement. Adjusting for AML/FCP, FTEs are down 11%
from peak in Q3 20
Additional provision of DKK 310m related to the debt collection case
booked in Q4
Expenses, 2022 vs 2021 (DKK m]
25,663
541
98
52
-213
161
126
Debt collection
41,905
13,800
26,478 -1,627
201
275
9108
25,568
2021
One-offs
Other costs impacted by a post-pandemic normalisation and higher
inflation
Transfor-
mation
Staff cost Perf. based
ex. perf. comp.
comp.
AML/
Legacy Resolution IT & other 2022 (pre
Complianceremediation fee
GW and
provision)
Danica
Goodwill
Settlement
of Estonia
matter
9M-22
FTES (#, thousands]
Expenses, 0422 vs 0322 [DKK m)
FTEs
Debt collection
6,909
20 19.5
19.3
18.9
AML/Financial Crime Prevention FTEs
P
14
6,777
68
18.8
18.8
50
-200
6,709
19
18.5
18.4
310
146
18.1
17.9
-290
18
17.4
77
69
600
17
4
3.5
3.6
3.6
3.6
3.1
3.1
3.1
3.1
3.2
3.3
6,177
320
0320
Q420 Q121 Q221 Q321 0421 Q122 Q222
03-22
One-offs
0322 0422
Transfor-
mation
AML/ Staff cost ex. Perf. based Legacy
Compliance perf.comp. comp. remediation
Resolution
fee
IT & other
6,599
04-22 (pre Settlement
provision]
04-22
of Estonia
matter
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