Denmark's Danske Bank Q1 net profit dips 1% amid market volatility

Danske Bank A/S

30/04/2026 06:40

Overview

Denmark banking group's Q1 net profit declined 1% yr/yr to DKK 5.7 bln

Total income rose slightly, driven by higher net interest and fee income

Net loan impairment reversal highlights strong credit quality despite uncertainty

Outlook

Danske Bank maintains 2026 net profit guidance at DKK 22-24 bln

Company says outlook is subject to uncertainty due to economic and geopolitical conditions

Danske Bank expects higher energy prices may weigh on growth in 2026

Result Drivers

LENDING AND DEPOSIT GROWTH - Co said higher lending volumes and deposit growth supported net interest income and overall results

FEE INCOME - Higher investment fee income and increased customer activity drove a 7% rise in net fee income

MARKET VOLATILITY - Lower net trading income and insurance service result were attributed to market volatility, with some effects described as temporary

Company press release: ID:nGNE8Tchtd

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Total Income
DKK 14 bln
Q1 Net Income
DKK 5.70 bln
Q1 Net Interest Income
DKK 9.30 bln
Q1 CET1 Capital Ratio
17.70%
Q1 Loan Impairments
DKK 26 mln
Q1 Net Fee Income
DKK 3.90 bln
Q1 Net Trading Income
DKK 389 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Danske Bank A/S is DKK361.00, about 9.6% above its April 29 closing price of DKK329.40

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)