Credit institutions had a lower result in 2022 than in 2021. The total profit before tax was DKK 25.7 billion compared to DKK 45.3 billion the year before. Lower value adjustments and Danske Bank’s money laundering fine of DKK 13.8 billion were the main reasons.
Credit institutions’ value adjustments were negatively impacted by the large interest rate increases in 2022. Core earnings on the other hand increased in 2022, mainly due to higher net interest income. The higher interest rate level has led to an increased interest margin on the deposit side.
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