Danske Bank A/S

OTC:DNKEY

Strong quarter: Danske Bank said Q2 was another strong quarter, with net profit of DKK 6.2 billion and return on equity of 14.8%, which management called the strongest quarterly ROE result in 20 years.

Outlook raised: Full-year 2026 net profit guidance was raised to DKK 23 billion to DKK 25 billion from DKK 22 billion to DKK 24 billion, driven entirely by stronger income expectations.

NII still solid: Management said net interest income remains resilient, helped by volume growth and rate hikes, and now expects full-year NII to be slightly above DKK 38 billion.

Broad momentum: Growth was described as broad-based across personal, business and large corporate clients, with corporate lending up 6% year-on-year and asset management up 24% year-on-year.

Costs under control: The Q2 cost-income ratio was 43%, and full-year 2026 cost-income guidance was improved to below 45% while expense guidance stayed at DKK 26 billion to DKK 26.5 billion.

Credit strong: Asset quality remained strong, with Q2 impairments of DKK 0.3 billion and full-year impairment guidance kept at around DKK 1 billion.

Capital flexible: CET1 ended Q2 at 17%, with management saying capital generation remains strong and the bank is on track for around 17% by end-2026 and around 16% by 2028.