Fra Danske Bank:
Q3 2018 vs Q2 2018
In the third quarter of 2018, the Group posted a net profit of DKK 2.5 billion, against DKK 4.2 billion in the second quarter. Adjusted for the one-off expense for the DKK 1.5 billion donation, net profit decreased DKK 0.2 billion. The underlying performance of the business continued to be stable.
Net interest income amounted to DKK 5.9 billion and was at the same level as in the second quarter. Net interest income saw a positive effect from lending volume growth and an additional number of interest days in the third quarter. However, the positive effect was offset by a decrease in lending margins, due primarily to developments in market rates, and higher capital costs as a result of the issuance of additional tier 1 capital at the end of the second quarter of 2018 and the non-preferred senior debt issued during the second and
third quarters of 2018.
Net fee income amounted to DKK 3.8 billion and was at the same level as in the second quarter. Net fee income at Wealth Management increased as a result of the integration
of SEB Pension Danmark. However, the increase was offset by lower customer activity over the summer months. Net trading income amounted to DKK 1.2 billion, an increase
of 16% from the level in the second quarter.
Net trading income benefited from a higher investment result in the health and accident business at Wealth Management. At Corporates & Institutions, FI&C net trading income rose on the back of a tentative improvement of market conditions at the end of the third quarter, despite a seasonal decline in customer activity. The positive effect in FI&C was partly offset by a decrease in net trading income at Capital Markets, due mainly
to a seasonal decline in activity.
Other income increased 55% from the level in the second quarter, due primarily to a positive result at Wealth Management. Operating expenses amounted to DKK 7.4 billion, an increase of 27% from the level in the second quarter. Adjusted for the expense for the DKK 1.5 billion donation, operating expenses increased 1%.
Efficiency measures and lower severance pay were more than offset by higher compliance costs, including costs relating to the investigation into matters at the Estonian branch, increased costs at Wealth Management due to the ordinary operating expenses of SEB Pension Danmark and increased investments in IT-related projects.
Loan impairments showed a net expense of DKK 0.1 billion, due to increased loan impairments against agricultural customers and single names at Banking DK and to single names at Corporates & Institutions, due primarily to ongoing restructuring in the oil and gas industry. The underlying credit quality was consistently strong and was supported by higher collateral values.
Danske Bank har offentliggjort delårsrapport for 1.-3. kvartal 2018.
Fungerende administrerende direktør Jesper Nielsen udtaler i forbindelse med regnskabet:
”Den forretningsmæssige udvikling i årets første ni måneder var stort set som forventet. De nordiske økonomier udviklede sig positivt i perioden, og der var god låneaktivitet fra både privat- og erhvervskunder. Det bidrog til fortsat udlånsvækst på tværs af Norden. Vi fastholdt en solid kreditkvalitet, og vores nettorente- og nettogebyrindtægter var på niveau med samme periode sidste år trods øget pres på marginalerne.
De samlede indtægter blev imidlertid påvirket af usikkerheden på de finansielle markeder. Derudover var omkostningerne højere, bl.a. som følge af vores beslutning om at donere 1,5 mia. kr., svarende til bruttoindtægterne på den estiske Non-resident portefølje, til initiativer, der fremmer bekæmpelsen af økonomisk kriminalitet.
Også internt investerer vi fortsat betydeligt i at gøre det så svært som muligt at bruge banken til økonomisk kriminalitet, og i at vi får draget den nødvendige læring af Estland-sagen. Det er et arbejde, vi tager meget alvorligt, og vi ved, at der er et stort arbejde foran os med at genskabe vores kunders og omverdenens tillid”.
