Danske Bank A/S (DNSKF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone. Welcome to the conference call for Danske Bank's financial results for 2025. My name is Claus Inger Jensen and I am head of Danske Bank's investor relations. With me today I have our CEO Carsten Iris and our CFO Cecil Hilary. We aim to keep this presentation to around 20 minutes and after the presentation we will open up for a Q&A session as usual. Afterwards feel free to contact the investor relations department if you have any more questions i will now hand over to carsten slide one please thanks house and i would also like to welcome you to our conference call where i'm pleased to share the highlights of denske bank's financial results for 2025. although the geopolitical situation overall continue to be challenging the macroeconomic backdrop for our customers and thus our business in the Nordics continue to be stable and slightly improving during the year. This is clearly reflected in our financial results as 2025 has been a year of solid performance for Denske Bank. Measured in terms of profit before impairment charges, 2025 represented the best result ever. Net profit for the year came in at $23 billion, equivalent to a robust return on equity of 13.3%. The result was based on improved income due to higher customer activity and furthermore evidenced by positive volume development. I'm pleased to see that despite the sale of our personal customer business in Norway, and several rate cuts during the year, we were able to maintain net interest income at the same level as in 2024. The slightly lower net profit in 2025 was solely due to a more normalized but still a low level of loan impairment charges compared to net reversals in 2024. When comparing to the preceding quarter, Core income came in better as a result of higher NII from an increas...