FI Newsletter

Net profit of DKr3,008m for the first quarter of 2005
Today Danske Bank announced its financial results for the first quarter of 2005.
Highlights are shown below:

• Danske Bank Group realised a net profit of DKr3,008m in the first quarter of 2005, against DKr2,238m in the same period of 2004.
• Income increased by 10% to DKr8,070m, compared with DKr7,317m in the first quarter of 2004.
• The cost/income ratio improved from 51.8% to 49.0%.
• Bank loans and advances, including lending by Banking Activities Northern Ireland and Banking Activities Ireland, increased by 30%.
• The integration of Northern Bank and National Irish Bank progresses according to schedule.
• Expectations for the pre-tax profit for the 2005 accounting year remain unchanged, compared with the expectations announced in the Annual Report for 2004. Income is likely to be higher than expected at the publication of the Annual Report, but the in-crease will be offset by the amortisation of intangible fixed assets.

You can read the full report in the Investor Relations section.

Acquisition of banks in Northern Ireland and the Republic of Ireland completed
By the end of February all the relevant authorities had approved Danske Bank's acquisition of Northern Bank in Northern Ireland and National Irish Bank in the Republic of Ireland.

With the approvals, Northern Bank and National Irish Bank became part of the Danske Bank Group. The Danske Bank Group is the sole owner of the two banks.

"The acquisition offers a solid basis for growth, and we have now started the integration process which will run until Easter 2006," says Peter Straarup, Chairman of the Executive Board of Danske Bank. "Then both banks will have access to Danske Bank's shared IT platform, and we will be able to offer both their retail and corporate customers better services and a range of new products."

The two banks will continue to operate under their own brand names, but they will adopt the corporate visual identity of the Danske Bank Group.

Group Payment Services
A new department, Group Payment Services, is being established. It will be headed by Mr. Mogens Soendergaard, Head of Transaction Services.

The new organisational unit will handle the co-ordination of all payment services, and it will include Group Cash Management, Payment Processing and Customer Services.

Mr. Tom S. Jensen, Senior Vice President, has been appointed head of Securities Services.

The information about contacts on www.danskebank.com/corporate & institutional will be updated as soon as all details of the new structure have been finalised. Until it has been updated, please use the existing contact details.

SIBOS 2005 in Copenhagen
Danske Bank will be represented at SIBOS 2005 in Copenhagen.

The following persons from Financial Institutions will attend:
Peter F. Christiansen, Head of Financial Institutions, 
Jesper Christensen, First Vice President,
Ronald Bullock, Senior Account Manager,
Torben Helbo, Senior Account Manager, 
Helge Jacobsen, Senior Account Manager,

Meet our representatives at stand No. C 330.

General Conditions for Danske Bank Group
A combined set of General Conditions Correspondents for business with Danske Bank Group in Denmark, Sweden and Norway is now available.