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Danske Bank (DANSKE) investor relations material

Danske Bank Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary31 Oct, 2025

Executive summary

  • Net profit for the first nine months of 2025 was DKK 16.7 billion, with a return on equity of 12.9% for the period and 12.6% for Q3, reflecting solid financial performance, strategic execution, and disciplined cost management.

  • Profit was down 5% year-over-year, mainly due to higher loan impairments and lower insurance income, partially offset by higher fee and trading income.

  • Lending and deposit volumes increased by 4% and 3% year-over-year, with strong momentum in corporate lending and retail deposit growth.

  • Assets under management reached a record DKK 954 billion, driven by robust net sales and investment performance.

  • Credit quality remained strong, with a loan loss ratio of 2 basis points and net reversals in Q3.

Financial highlights

  • Net profit for the group was DKK 16.7 billion, with a return on equity of 12.9% and a cost-to-income ratio of 45.6%.

  • Net interest income remained stable year-over-year, supported by lending and deposit growth and structural deposit hedge.

  • Fee income grew 2% year-over-year, mainly from higher customer activity and increased assets under management.

  • Net trading income rose 12% year-over-year, but was down 27% quarter-on-quarter due to a Q2 one-off and valuation adjustments.

  • Operating expenses were flat year-over-year and down 1% quarter-on-quarter, with cost discipline offsetting higher digital investments.

Outlook and guidance

  • Net profit for 2025 is expected at the upper end of DKK 21–23 billion, driven by resilient NII and improved loan impairment outlook.

  • Operating expenses are expected to be up to DKK 26 billion for the full year.

  • Loan impairment charges guidance lowered to no more than DKK 0.6 billion for the year, reflecting strong credit quality.

  • Total income for 2025 expected to be slightly lower than 2024, with resilient net interest income and growth in fee income.

  • Financial targets for 2026 remain unchanged.

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Frequently asked questions

Danske Bank A/S provides various banking products and services to corporate, institutional, and international clients in Scandinavia, the Baltics, Benelux countries, Germany and the United Kingdom. The company offers a range of financial products and services together with related banking services for private customers in Denmark; private and business customers in Norway; corporate, institutional, agency finance and treasury customers in Sweden; corporate and commercial customers in Denmark, Finland, Norway, Iceland, Lithuania and Poland; small-and middle-market companies in the Baltic countries of Estonia, Latvia, and Lithuania; corporate clients in Switzerland; private individuals and families in Europe via direct financial operations through telephone and the Internet (e-banking); public companies across Europe; private individuals across Europe via direct financial operations through telephone and the Internet (e-commerce); small-and middle-market enterprises across Europe; institutional investors across Europe; treasury clients in Sweden; financial institutions throughout its area of operations; municipalities in Denmark; county councils in Norway; municipal governments throughout its area of operation.

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