Interim Financial Report 1st quarter 2019

08.05.2019



Pre-tax profit amounted to DKK 429m in Q1 2019 (Q1 2018: DKK -84m) corresponding to a return of 9.6% p.a. on average equity (Q1 2018: -2.1% p.a.).

The net profit for the period amounted to DKK 336m in Q1 2019 (Q1 2018: DKK -65m) corresponding to a return of 7.5% p.a. on average equity (Q1 2018: -1.7% p.a.).

Core profit amounted to DKK 429m (Q1 2018: DKK 323m before the IFRS 9 implementation).

Core expenses amounted to DKK 79m, falling by 57% relative to Q1 2018, and this decline can chiefly be attributed to a new intra-group settlement model.

Ordinary impairment charges affected core profit favourably by DKK 26m (Q1 2018: DKK 21m before the IFRS 9 implementation).

At the end of Q1 2019, the capital ratio and the Core tier 1 capital ratio amounted to 22.4% (end of 2018: 22.1%).


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