Comments on the Interim Financial Report Q1 2023

• Earnings per share rose 53% to DKK 37.5 (H1 2022: DKK 24.5)
• Net interest income rose 74% to DKK 4,639m (H1 2022: DKK 2,671m)
• Core income increased 57% to DKK 6,573m (H1 2022: DKK 4,197m)
• Core expenses rose 27% to DKK 2,974m (H1 2022: DKK 2,344m)
• Core profit before loan impairment charges increased 94% to DKK 3,599m (H1 2022: DKK 1,853m)
• Loan impairment charges amounted to an expense of DKK 109m (H1 2022: an income of DKK 247m)
• The net profit was up 47% to DKK 2,488m (H1 2022: DKK 1,691m)
• Capital ratio at 20.3%, of this common equity tier 1 capital ratio at 16.1% (H1 2022: 22.2% and 17.9%, respectively)
• For 2023, earnings per share is expected at DKK 70-80
• The integration of Handelsbanken Denmark is proceeding according to plan
• The acquisition of PFA Bank A/S is expected to close during the coming months.

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