Danske Bank A/S (DNSKF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.877 Good morning, everyone. Welcome to the conference call for Danske Bank's financial results 00:00:04.877 -- 00:00:07.741 for the first quarter of 2025. 00:00:07.741 -- 00:00:11.927 My name is Claus Engar Jensen, and I'm head of Danske Bank's investor relations. 00:00:11.927 -- 00:00:17.033 With me today, I have our CEO, Carsten Iris, and our new CFO, Cecile 00:00:17.033 -- 00:00:21.640 Hillary. We aim to keep this presentation to around 20 minutes. 00:00:21.640 -- 00:00:26.288 And after the presentation, we will open up for a Q&A session as usual. 00:00:26.288 -- 00:00:31.036 Afterwards, feel free to contact the investor relations department if you have any more 00:00:31.036 -- 00:00:34.802 questions. I will now hand over to Carsten. 00:00:34.802 -- 00:00:39.289 Slide one, please. Thanks, Klaus, and I would also like to welcome you to our conference 00:00:39.289 -- 00:00:42.595 call for the first quarter of 2025. 00:00:42.595 -- 00:00:47.382 Despite the fact that the past month has seen increased uncertainty regarding the global 00:00:47.382 -- 00:00:51.095 economic outlook, the first quarter has been solid. 00:00:51.095 -- 00:00:57.646 With a net profit of 5.8 billion, equivalent to a return on shareholders' equity of 13.3%, 00:00:57.646 -- 00:01:02.774 we've had a good start to the year. The macroeconomic backdrop in Q1 was 00:01:02.774 -- 00:01:08.620 strong, primarily in Denmark, where GDP growth reached 3.7% in 2024, 00:01:09.184 -- 00:01:14.062 and the economy has continued along the same path in the first quarter. 00:01:14.062 -- 00:01:19.590 When comparing to the first quarter of last year, the result came in 2% higher, 00:01:19.590 -- 00:01:25.538 mainly due to an uplift in fee income, where we continue to benefit from expa...