Our guidance for 2015 is based on expectations of slow and still fragile macroeconomic growth and a continuation of low interest rate levels in our core markets.
We expect total income at around the same level as in 2014. Income will benefit from lower funding costs and slightly higher customer activity. In 2014, income benefited from the sale of Nets and the booking of part of the shadow account balance at Danica Pension.
Expenses are expected to be below DKK 22 billion.
Impairment charges in our core activities are expected to remain at a low level.
We expect net profit for 2015 of above DKK 14 billion.
This guidance is generally subject to uncertainty and depends on economic conditions, including the development in monetary policy by the central banks. Our trading income and insurance business income are particularly uncertain. The 2015 results for trading and insurance will depend greatly on developments in the financial markets and the possibility for Danica Pension to book the risk allowance and part of the balance on the shadow account to income.
Last updated on 3. February 2015