Interim Financial Report for 1st half of 2018

21.08.2018



  • Pre-tax profit, exclusive of derived effects from IFRS 9: DKK 785m, corresponding to a return of 9.9% p.a. on average equity.
  • Post-tax profit, exclusive of derived effects from IFRS 9: DKK 630m, corresponding to a return of 7.9% p.a. on average equity.
  • Pre-tax profit: DKK 378m (H1 2017: DKK 543m) corresponding to a return of 4.8% p.a. on average equity (H1 2017: 8.3% p.a.).
  • Net profit for the period amounted to DKK 312m (H1 2017: DKK 423m) corresponding to a return of 3.9% p.a. on average equity (H1 2017: 6.5% p.a.).
  • Core profit : DKK 784m (H1 2017 : DKK 479m).
  • Core expenses at DKK 375m fell by 14% relative to H1 2017.
  • Ordinary impairment charges affected core profit by DKK 62m (H1 2017: DKK 120m).
  • The effect from the implementation of IFRS 9 and adjustments to the standard amounted to DKK 407m at the beginning of 2018.
  • At the end of the first half of 2018, the capital ratio and the Core Tier 1 capital ratio came to 21.4% (end of 2017: 20.8%) and 21.3% (end of 2017: 20.8%).