Danske Bank gains from rising interest

Danske Bank has reported a profit of 5.6 billion Danish kroner for the first quarter of the year, an increase of approximately 9% from the same period in 2022. This financial turnout is reflected in their recently published quarter report. The bank’s interest income reached just over 9.1 billion kroner, mirroring the level of the previous quarter and up from 8 billion kroner the prior year. Despite ongoing economic uncertainties, exacerbated by geopolitical tensions, Danske Bank continues to expect annual earnings between 20 and 22 billion kroner. CEO Carsten Egeriis describes the quarter’s results as a ‘continuation of the stable and satisfactory results created in 2022.’ The bank’s record earnings in 2022 were 21.3 billion kroner. While facing a mixed economic landscape, particularly challenges in the construction sector, Sydbank analyst Mikkel Emil Jensen regards Danske Bank’s performance as a solid start to the year.