Good customer activity and strong credit quality led to solid results for the first nine months of 2025 Net profit of DKK 16.7 billion

Core Insights - Danske Bank reported a net profit of DKK 16.7 billion for the first nine months of 2025, driven by strong execution of its Forward '28 strategy and resilient financial performance [1][8] - The bank's return on equity stood at 12.9%, indicating robust profitability despite a slight decrease from 13.4% in the same period of 2024 [10] Financial Performance - Total income for the first nine months of 2025 was DKK 41.6 billion, slightly down from DKK 41.8 billion in the same period of 2024 [10] - Net interest income decreased to DKK 27.2 billion year-on-year, impacted by the sale of the personal customer business in Norway and lower deposit margins, but supported by increased lending activity [4] - Net fee income rose by 2%, driven by strong customer activity, while net trading income increased by 12% due to positive market value adjustments [5] - Operating expenses remained stable at DKK 19.0 billion, consistent with the previous year [10] - Loan impairments were low at DKK 258 million, reflecting strong credit quality despite macroeconomic uncertainties [6][10] Customer Segments - Profit before tax for Personal Customers decreased to DKK 6,400 million, primarily due to lower net interest income and fee income [15] - Business Customers saw profit before tax increase by 11% to DKK 7,399 million, driven by loan impairment reversals and increased net fee income [16] - Large Corporates & Institutions reported a slight increase in profit before tax to DKK 7,079 million, supported by higher net interest income [17] Asset Management - Assets under management reached an all-time high of DKK 954 billion, driven by strong net sales, particularly in Private Banking and Institutional segments [7] Market Outlook - The macroeconomic environment remains stable, with expected growth in the Nordic region and Denmark, supported by lower interest rates and rising real incomes [12][13] - Nordic businesses maintain cautious optimism, with a relatively good near-term outlook despite uncertainties from global political issues [14] Future Guidance - Danske Bank expects net profit for 2025 to be in the upper range of DKK 21–23 billion, contingent on economic conditions [21]