Financial results for H1 2024 | 15.08.24

Company Announcement No. 50

Net profit of DKK 1,215 million and return on equity of 18.8%

The financial statements for the first half of 2024 show a very satisfactory net profit of DKK 1,215 million and a return on equity after tax of 18.8%. In the second quarter alone, market interest rates decreased by only a small margin, resulting in a continued satisfactory return on the bank’s strong excess liquidity, which is the main reason why net interest income in H1 2024 was 10% higher than in the same period a year earlier. Overall, the bank’s core income grew by 6% compared to H1 2023.

Also in Q2 2024, the continued strong credit quality resulted in a net reversal of impairment charges and a positive profit impact of impairment charges for H1 2024 of DKK 37 million. The continued net reversals underline the robustness of our retail and corporate clients, which was also a key driver of the bank’s earnings outlook upgrade announced in June,” said Lasse Nyby, CEO.

For questions regarding this press release, please contact Lasse Nyby, Chief Executive Officer, at +45 9634 4011, or Rune Brandt Børglum, Head of Investor Relations, on tel. +45 9634 4236.

Rune Brandt Børglum
Head of Investor Relations