Danske Bank A/s · OMXCOP:DANSKE
Danske Bank A/s — Q4 2025 Earnings Presentation
14 slides from Danske Bank A/s's earnings presentation, Feb 5, 2026
Slide 1: Financial results – 2025
Presentation for Q4 conference call Financial results – 2025 Carsten Egeriis Cecile Hillary Chief Executive Officer Chief Financial Officer
Slide 2: Highlights: Financial performance underpinned by record-high core banking income
Financial results – 2025 Highlights: Financial performance underpinned by record-high core banking income, driven by strategy execution and continued business momentum Commercial highlights ➢ Beneficial operating environment and macro backdrop in the Nordics underpin financial performance and net pr
Slide 3: Personal Customers: Financial performance supported by improving volumes and good customer activity
Financial results – 2025 Personal Customers: Financial performance supported by improving volumes and good customer activity Highlights Financial performance KPIs Q425/Q424 total income increase of Total income ROAC (%) Cost/income (%) 2% as NII stability was supplemented (DKK m) +2% 2026 target (~2
Slide 4: Business Customers: Sustained commercial momentum supported by expanding customer base
Financial results – 2025 Business Customers: Sustained commercial momentum supported by expanding customer base and strong growth in business volumes Highlights Financial performance KPIs Q425/Q424 total income up 8%, Total income ROAC (%) Cost/income (%) driven by 10% higher NII and 5% (DKK m) +8%
Slide 5: Large Corporates & Institutions: Record-high total income driven by corporate lending
Financial results – 2025 Large Corporates & Institutions: Record-high total income driven by corporate lending activity and fees from Asset Management Highlights Financial performance KPIs Total income up 24% Q/Q, driven by Total income ROAC (%) Cost/income (%) NII from strong lending growth and (DK
Slide 6: Solid financial performance driven by income trajectory and cost management
Financial results – 2025 Solid financial performance driven by income trajectory and cost management Highlights Income statement (DKK m) FY/FY: Total income supported by 2025 2024 Index Q4 25 Q3 25 Index resilient NII and record fee income. Trading income reflects higher Net interest income 36,611 3
Slide 7: NII: Resilient NII underpinned by continued growth in volumes
Financial results – 2025 NII: Resilient NII underpinned by continued growth in volumes and stability derived from structural hedge Highlights NII 2025 vs 2024 (DKKm) Deposit margin development** (%) PC NO Adj. +1% 3.0 NII stability Y/Y from growing business volumes 568 2.68 431 2.5 2.50 2.44 and str
Slide 8: Fee income: Record fee income driven by strong performance
Financial results – 2025 Fee income: Record fee income driven by strong performance in Asset Management and corporate activity Highlights Net fee income (DKK m) Everyday banking fees (e.g. transfers, accounts) +3% Sustained high customer activity and good 15,423 demand for our cash management soluti
Slide 9: Trading income: Slightly lower customer activity and valuation adjustments
Financial results – 2025 Trading income: Slightly lower customer activity and impact of valuation adjustments Highlights Net trading income (DKK m) LC&I +8% Y/Y: Stable development as robust customer 2,872 activity in Fixed Income & Currencies business helped to partially offset lower activity in Eq
Slide 10: Expenses: 2025 costs in line with full-year guidance
Financial results – 2025 Expenses: 2025 costs in line with full-year guidance Highlights Expenses (DKK m) FY/FY: Flat cost development as higher staff costs, 0% -134 performance-based compensation and -70 investments were offset by lower FCRP costs, lower remediation costs and lower resolution fund
Slide 11: Asset quality: Strong credit quality drives below-cycle level of impairments
Financial results – 2025 Asset quality: Strong credit quality drives below-cycle level of impairments; prudent macro scenarios and PMA reversals Highlights Impairment charges by category (DKK bn) Credit quality deterioration PMAs Macro models Strong credit quality and few single-name impairments off
Slide 12: Capital: Strong capital generation with CET1 capital ratio
Financial results – 2025 Capital: Strong capital generation with CET1 capital ratio of 17.6% when fully deducting the announced 40% additional distribution Highlights CET1 development (%) CET1 buffer CET1 capital requirement Capital position remained strong with CET1 ratio of 17.6% when incl. the ef
Slide 13: Financial outlook for 2026
Financial results – 2025 Financial outlook for 2026 We expect total income to be around DKK 58 billion driven by growing core banking income and our continued efforts to drive commercial momentum and growth in line with our financial targets for 2026 Income Income from trading and insurance activiti
Slide 14: Q&A Session
Financial results – 2025 Q&A Session Press *11 to ask a question Danske Bank 13