Interim financial report 1st quarter 2020
Pre-tax profit amounted to DKK -95m in Q1 2020 (Q1 2019: DKK 429m) corresponding to a return of -2.0% p.a. on average equity (Q1 2019: 9.6% p.a.).
The net profit for the period amounted to DKK -74m in Q1 2020 (Q1 2019: DKK 336m) corresponding to a return of -1.6% p.a. on average equity (Q1 2019: 7.5% p.a.).
Core income amounted to DKK 477m (Q1 2019: DKK 482m).
Core expenses amounted to DKK 87m (Q1 2019: DKK 79m).
Impairment charges affected by management's estimate for the impact of Covid-19 of DKK 400m. Impairment charges amounted to DKK 485m (Q1 2019: DKK -26m).
At the end of Q1 2020, the capital ratio and the Core tier 1 capital ratio amounted to 23.3% (end of Q1 2019: 22.4%).