Danske Bank (DANSKE) Investor presentation summary

Executive summary and strategic highlights

• Achieved net profit of DKK 5.7bn in Q1 2026, with ROE at 13.1% and cost/income ratio at 45.8%.

• Raised 2028 targets: ROE above 14.5%, total income ~DKK 63bn, cost/income ratio ≤43%, and CET1 capital ratio ~16%.

• Announced extraordinary dividend of DKK 5bn and revised dividend policy to 60-70%.

• Commercial momentum reflected in 7% corporate lending growth and strong asset management net inflows.

• Strong capital position with CET1 ratio at 17.7% and robust liquidity coverage ratio of 158%.

Macroeconomic and regional outlook

• Nordic economies remain solid despite volatility, with Denmark's 2026 GDP growth forecast at 3.0% and unemployment at 3.0%.

• Sweden, Norway, and Finland forecast moderate GDP growth and stable policy rates for 2026.

• Household debt and house prices show stable trends across the region.

Financial performance and business units

• Total income up 4% YoY, driven by net interest income and fee income from higher customer activity.

• Expenses managed in line with guidance; Q1 cost lower QoQ due to seasonality.

• Personal and business customer segments saw higher deposit and lending volumes, with market share gains in Northern Ireland.

• Danica's financial result impacted by market volatility, but health and accident business normalized.