Danske Bank, based in Copenhagen, confirmed its annual forecast after the first quarter concluded with results as expected and strong credit quality. The net income amounted to 5.63 billion Danish Kroner ($809.7 million), supported by a 14% increase in net interest income to 9.14 billion Kroner. Analysts had predicted a net income of 5.58 billion Kroner and net interest income of 9.25 billion Kroner.

Increase in Income Supported by Strong Customer Activity in All Business Segments, Sustained Efficiency Focus Keeping Costs Low, and Robust Credit Quality with Minimal Credit Losses, According to Danske Bank. The Company Also Saw an Increase in Business Customer Lending, as well as a Continually Strong Demand for Its Products from Retail Customers in Denmark. Overall, Credit Volume Remained Stable.

For the fiscal year 2024, the bank continues to expect a net result between 20 and 22 billion kroner. Total income is expected to grow this year, and operating expenses are still estimated at 26 to 26.5 billion kroner.

The Tier 1 capital ratio, a key indicator of financial strength, increased year-over-year from 18.0% to 18.5%.