Danske Bank AS (OCSE:DANSKE)

kr 209.7 -0.2 (-0.1%) Market Cap: 175.71 Bil Enterprise Value: 978.59 Bil PE Ratio: 7.64 PB Ratio: 0.99 GF Score: 68/100

Q2 2024 Danske Bank A/S Earnings Call Transcript

Jul 19, 2024 / 06:30AM GMT

Release Date Price: kr214.9 (+7.69%)

Transcript

Key Points

Positve

Danske Bank A/S (DNKEY) reported a net profit of DKK11.5 billion for the first half of 2024, equivalent to a payout ratio of 56%.
The Board of Directors has decided to distribute an interim dividend of DKK7.5 per share.
The bank saw an increase in customer activity, particularly in corporate lending and investment products.
Danske Bank A/S (DNKEY) maintained a CET1 target of above 16% by the end of 2026.
The bank's asset management business continued to show positive trends with net sales for retail customers and institutional mandates.

Negative

Net trading income was lower compared to the same period last year due to exceptionally high customer activity in Q1 2023.
Operating expenses increased slightly due to wage inflation and investment ramp-ups.
The bank's stock of residential lending in Denmark was impacted by redemptions and amortization.
There was a subdued housing market activity impacting fee income from lending activities.
The bank's CET1 capital requirement remains high at 14.5%, including retail exposures in Norway.

Claus I. Jensen;S;Head of Investor Relations

Danske Bank A

/-

Good morning, everyone. Welcome to the conference call for Danske Bank's financial results for the first half of 2024. My name is Claus I. Jensen, and I'm Head of Danske Bank's Investor Relations. With me today, I have our CEO, Carsten Egeriis; and our CFO, Stephan Engels. We aim to keep this presentation to around 25 minutes after the presentation, we will open up for a Q&A session as usual, and afterwards, feel free to contact the Investor Relations department if you have any more questions, I will now hand over to Carsten Slide 1, please.

Carsten Egeriis;S;London Branch;Chief Executive Officer

Danske Bank A

/()-

Thanks, Claus. I would also like to welcome you to our conference call for the financial report for the first half of 2024. We're now 6 months into our new strategy period, and I'm pleased that we continue to execute on our strategic priorities according to plan. We're clearly making progress on our four 28

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