As a result of a number of extraordinary items concerning tax, the annual goodwill impairment testing and other elements affecting net profit in the fourth quarter of 2019, the outlook for 2019 is revised upwards.
Previously, we expected a net profit for 2019 in the middle of the
On a net basis, we expect the extraordinary items to have an impact of around
Two items will affect the tax line:
International Joint Taxation (IJT): Since 2009,
Deferred tax provision: At the same time, we expect to make a provision for deferred tax adjustments on assets and liabilities measured at amortised cost. This will have a negative impact of around
In connection with the yearly balance sheet review and impairment tests, we anticipate the following items:
Loan impairment charges: Following a review of our loan portfolio, we expect extraordinary impairments of around
Operating expenses: We expect to see an increase in expenses of
Non-core: We expect to make negative value adjustments in Non-core of around
We reaffirm our expectation of a return on shareholders' equity in the range of 5-6% for 2020.
The outlook and the effects of the individual extraordinary items remain subject to uncertainty.
Head of Press Relations (interim),
Mobile: + 45 14 14 00
Email: kban@danskebank.dk
Head of Investor Relations
Mobile: +45 25 42 43 70
Email: clauj@danskebank.dk
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