Financial reporting

"The results presented today considerably exceed our expectations earlier this year. We have therefore raised our guidance for business profit and profit before tax for 2020 by DKK 1.5 billion. Our customers have generally steered well through the corona crisis so far. We have still not seen clear signs of credit quality deterioration, but have nevertheless made significant impairment provisions to absorb potential future losses. Despite the corona crisis, we have maintained strong momentum in our underlying core business. We are recording lending and customer growth in Totalkredit and Nykredit Bank, as illustrated by one of our core income items, net interest income, which continues to rise despite decreasing average administration margin payments from customers."

Michael Rasmussen
Group Chief Executive