FI Newsletter

Net profit of DKr6,054m for the first half year of 2005.
Today Danske Bank Group released its Interim Report for 2005. Highlights are shown below:

• The Danske Bank Group recorded a net profit of DKr6,054m, against a net profit of DKr4,060m for the first half of 2004. This is better than expected at the release of the report for the first quarter of 2005.
• Earnings per share increased by 55% to DKr9.6.
• Income rose by 21% to DKr16,863m, up from DKr13,960m in the first half of 2004.
• The cost/income ratio improved from 54.0% to 51.3%.
• The Group recorded a net positive entry for credit loss expenses of DKr225m in the first half of 2005, against a charge of DKr621m in the first half of 2004.
• Bank loans and advances, including lending extended by the banks in Northern Ireland and the Republic of Ireland, grew by 31%.
• The integration of Northern Bank and National Irish Bank is going according to plan. The Group still expects to complete the IT conversion at Easter 2006.
• The Group upgraded its full-year profit before tax, which is now expected to be about 10% higher than in 2004.

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

Nordic Custody
At this year’s SIBOS we are launching Danske Bank’s Nordic Custody solution, which is now up and running. The shared IT platform used throughout the Danske Bank Group offers an excellent opportunity to provide our clients with a uniform Nordic service level as well as easy access to a single point of contact.

Come visit our stand to begin a dialogue on a regional custody solution for Denmark, Norway, and Sweden.

FX Quant model
There are excess returns in the FX markets worth going after. Danske Bank’s quantitative model tends to outperform simpler conventional strategies. We have a suggestion for a value-adding quantitative FX strategy.

The model consists of two key components:

• a statistical model for return dynamics (estimated using advanced time series tools)
• a hedge/optimality criterion (weekly mean variance criterion)

Please contact Martin Richter, Danske Markets, on telephone +45 33 44 05 36. Or discuss it with us at SIBOS.

SIBOS 2005 – Copenhagen
It’s getting close to SIBOS 2005.

Please note the Happy Hour tradition at our stand, No. C 330, every day at 4.00 p.m.