Q1 2025 Danske Bank A/S Earnings Call Transcript

May 02, 2025 / 06:30AM GMT

Transcript

Key Points

Positve

Danske Bank AS (DNKEY) reported a solid net profit of DKK5.8 billion for Q1 2025, reflecting a return on shareholders' equity of 13.3%.
The macroeconomic backdrop in Denmark remains strong, with GDP growth of 3.7% in 2024 continuing into 2025.
Credit quality is robust, with low loan impairment charges and a diversified credit exposure.
The bank's capital position is strong, with a CET1 ratio of 18.4%, supported by healthy capital generation.
Fee income increased by 8% year-over-year, driven by strong customer activity across various segments.

Negative

Operating expenses, while stable, remain a focus area, with a cost/income ratio target of 45% yet to be fully achieved.
The geopolitical environment, including trade wars, poses uncertainties that could impact future financial performance.
Net interest income is expected to decline slightly quarter-on-quarter due to lower rates, despite volume growth.
The insurance business has faced challenges with negative impacts from legacy pension plan provisions.
Market share losses in Denmark during the AML crisis period are still being addressed, with ongoing initiatives to regain customers.

Claus Jensen;S;Head of Investor Relations

Danske Bank A

/-

Good morning, everyone. Welcome to the conference call for Danske Bank's financial results for the first-quarter of 2025. My name is Claus Ingar Jensen, and I'm Head of Danske Bank's Investor Relations. With me today, I have our CEO, Carsten Egeriis; and our new CFO, Cecile Hillary.

We aim to keep this presentation to around 20 minutes. And after the presentation, we will open up for a Q&A session as usual. Afterwards, feel free to contact the Investor Relations department if you have any more questions.

I will now hand over to Carsten. Slide 1, please.

Carsten Rasch Egeriis;S;Chief Executive Officer

Danske Bank A;Member of the Executive Leadership Team

/- -

Thanks, Claus. And I would also like to welcome you to our conference call for the first quarter of 2025. Despite the fact that the past month has seen increased uncertainty regarding the global economic outlook, the first quarter has been solid.

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