Danske Bank A/S · OMXCOP:DANSKE
Danske Bank A/S — FY2003 Earnings Presentation
14 slides from Danske Bank A/S's earnings presentation, Feb 6, 2004
Slide 1: Årsrapport 2003
Årsrapport 2003 København, 6. februar 2004
Slide 2: Profit & loss account
Profit & loss account - Best financial results ever Profit & loss account (DKr m) 2002 2003 Index Core income 27.065 26.949 100 Expenses 15.489 14.820 96 Core earnings before prov. 11.576 12.129 105 Provisions for bad debts 1.420 1.662 117 Core earnings 10.156 10.467 103 Earnings from inv. portfolio
Slide 3: Balance sheet
Balance sheet - Total assets, including Danica, exceeded DKr2,000bn Balance sheet (DKr bn, year-end) 2002 2003 Index Bank loans and advances 479 523 109 Bank loans ex repos 402 397 99 - Corporate 289 275 95 - Retail 113 123 109 Mortgage loans 469 498 106 Bonds and shares 433 494 114 Deposits 428 484
Slide 4: Banking Activities Denmark
Banking Activities Denmark - Increasing market share Core earnings before provisions Market shares, lending % DKr bn 31 Corporate 6,0 Total 29 5,5 + 27 Retail 25 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 5,0 2001 2002 2003 2002 2003 Customer satisfaction and Index loyalty Index 2002 80 2002 80 2003 2003 75 75 74 75 7
Slide 5: Banking Activities International
Banking Activities International - 5% earnings growth Core earnings before provisions Core earnings before provisions Dkr m Dkr m 800 800 600 600 400 400 200 200 2001 2002 2003 2001 2002 2003 Core earnings before provisions Core earnings before provisions Dkr m Dkr m Mio. kr. 800 400 600 300 400 200
Slide 6: Realkredit Danmark
Realkredit Danmark - 3% decline in earnings Core earnings before provisions % Market shares DKr bn 38 2,3 Gross lending 33 2,2 28 2,1 Net new lending 23 2,0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2001 2002 2003 2002 2003 Interest-only loans Use of loan proceeds DKr bn Trend in volume Repayment of 30 other debt Loa
Slide 7: Danske Markets
Danske Markets - Earnings remain strong Core earnings before provisions DKr bn 1,5 1,0 0,5 0,0 2001 2002 2003 Restructuring costs related to Danske Securitities 7
Slide 8: Danica Pension
Danica Pension - Solid business growth, but decline in core earnings Gross premiums DKr bn á 13% 15,0 á 17% 12,5 10,0 2001 2002 2003 Core earnings before provisions DKr m 1.200 1.050 900 2001 2002 2003 8
Slide 9: Danske Capital
Danske Capital - Conservative investment pattern continues to limit earnings Core earnings before provisions Dkr m 500 400 300 200 2001 2002 2003 Asset allocation End End % alloc % alloc (DKr bn) 2002 2003 2002 2003 Equities 61 70 18 19 Private equity 10 8 3 2 Bonds 263 284 77 77 Cash 9 8 2 2 Total
Slide 10: Share price performance
Share price performance Share price - Danske Bank Danske Bank 175 MSCI, Europe, Banks, Indexed 150 125 100 75 50 januar 99 januar 00 januar 01 januar 02 januar 03 januar 04 10
Slide 11: Forventninger til 2004
Forventninger til 2004 • Macroeconomic growth higher than in 2003 • Core income in line with 2003 • Costs a little lower than in 2003 • Credit quality of the loan portfolio will remain satisfactory, with a relatively low provisioning level • Core earnings slightly higher than in 2003 • Investment ea
Slide 12: Key figures and ratios
Key figures and ratios - Improvement in the key indicators Key ratios (%) 2002 2003 Index Net profit as % of avg. share. equity 14,0 15,2 109 Core earnings as % of avg. share. equity 17,2 17,1 99 Expenses as a % of core income 57,2 55,0 96 RAROC before tax 25 33 133 Core (tier 1) capital ratio 7,6 7
Slide 13: Allocation of profit
Allocation of profit - Dividend equal to 50% of net profit Dividend 2002 2003 Per share (DKr) 4.75 6.55 Total (DKr m) 3,477 4,661 Shareholders' equity (DKr m) Result Share. eq. Shareholders' equity (Jan.1) 60,319 Net profit for the year 9,286 Dividend 4,661 Transferred to share. equity 4,625 4,625 S
Slide 14: www.danskebank.com/IRDanskePerspektive
www.danskebank.com/IRDanskePerspektive