Press release
Bernstorffsgade 40
DK – 1577 København V
Tel. +45 45 14 14 00
19 July 2024
Strong business performance and positive outlook underpinned by robust customer activity and slightly improved macroeconomic environment
Net profit of DKK 11.5 billion for the first half of 2024
Carsten Egeriis, Chief Executive Officer, comments on the financial results:
“The financial result for the second quarter continued the very positive development we saw in the first quarter. Persistently strong net interest income and a sustained fee uplift contributed to higher core banking income in the first half of the year, resulting in an 11% increase relative to core banking income in the same period last year. Combined with continually strong credit quality with a net impairment reversal in the second quarter, this led to an increase in net profit, which also reflects robust customer activity across the business.
We see the recent rate cuts by the ECB and the Danish central bank as a positive step that is likely to benefit economic activity. The rate cuts have also benefited our customers in the period, as we both launched new offerings and improved existing ones on the loan side as well as in relation to savings and investments. We also have a strong advisory setup and continually develop our digital solutions, all of which enables us to maintain our position as an attractive bank for all customers.
We continue to make progress on our strategy as we strive to improve the bank to the benefit of all stakeholders. We have taken important steps, such as introducing a self-service welcoming journey, upskilling advisers to continuously improve business customer satisfaction, and increasing the number of products available via our digital platform for business customers. Keeping in mind that it is still early days in the strategy period, we continue our
