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Danske Bank Oyj : Financial Statement 2015

Danske Bank Plc Financial Statement 2015

| Helsinki, Suomi, 2.2.2016 |
| |
Danske Bank Plc Group's Annual Report January - December 2015

Risto Tornivaara, CEO: Credit portfolios performed favorably in the difficult
market conditions.

"In 2015 we saw that the reform of the bank's operational model and
organizational structure

that we initiated in 2012 to ensure our competitiveness in the changing
environment continues to bear fruit. Customer satisfaction continued to
improve in all segments, especially among medium-sized and large corporate
customers where we are already either in the first or second position, which
is what we aim for. Danske Bank's objective is to be the most trusted
financial partner for Finns, and we are pleased that satisfaction among our
personal customers also showed progress.

Our consistent work to improve customer satisfaction was also reflected
positively in our business performance. Our loan portfolio among small and
medium-sized companies grew by 8 per cent, which is faster than the market.
Personal banking customers responded well to our efforts to make daily
banking effortless, and the volume of new housing loans granted grew by 20
per cent in total compared with 2014.

Moreover, more than 22,000 of our personal banking customers took the
opportunity to have an interest-only period on their home loans, which
released some EUR 110 million in assets for households to use.

The quality of the loan portfolio is generally at a good level, and we do not
see any substantial change in credit risks.

It is our ambition to make both daily banking and bigger financial decisions
easy by providing leading innovative services and solutions. The popularity
of our mobile and tablet bank apps continued its strong growth, and the
combined number of log ins in December was over 3 million. During the last
month of the year, our customers checked their account transactions over 5
million times and their investment holdings around 200,000 times through the
mobile bank alone.

Nearly 240,000 Finns had downloaded the MobilePay payment app by the end of
the year, and money was transferred through the app nearly 500,000 times
during the year. We believe that mobile payments will gain further traction
2016 and anticipate a strong year for MobilePay.

The operating environment in the banking sector continued to be very
challenging throughout the year. The Finnish national economy had its fourth
difficult year in a row, and record-low interest rates depressed our net
interest income. Since the net trading income also declined, Danske Bank Plc
Group's operating income fell short of the 2014 figure by 5 per cent.
Determined efforts to develop the bank's cost structure continued, and credit
losses also declined. Our cost-to-income ratio improved by 0.4 percentage
points on the previous year and was 61.4 per cent.

The profit before taxes for the year was EUR 209.5 million, which is 2 per
cent less than in 2014. Danske Bank's operations in Finland is a significant
Finnish taxpayer. We paid EUR 58.8 million in corporate tax in total on the
result for 2014, and were Finland's tenth-largest payer of corporate tax
according to the statistics of the Federation of Finnish Financial Services.

Danske Bank Plc Group's capital adequacy is still very strong, and the total
capital ratio was 18.4 per cent at the end of the year (14.5% at the end of
2014). Our aim is to grow in Finland, and our strong capital adequacy
provides a good foundation for this."

Danske Bank Plc Group's Financial Highlights

| EURm 2015 2014 2013 2012 2011 |
| Revenue 790 850 887 1 001 1 087 |
| Net interest income 304 315 318 358 346 |
| % of revenue 38.5 37.1 35.9 35.8 31.8 |
| Profit before taxes 210 214 200 157 147 |
| % of revenue 26.5 25.1 22.5 15.7 13.6 |
| Total income 1) 575 603 622 637 650 |
| Total operating expenses 2) 353 373 425 417 449 |
| Cost to income ratio 61.4 61.8 68.3 65.4 69.1 |
| Total assets 30,313 29,692 26,680 31,813 27,406 |
| Equity 2,515 2,502 2,383 2,379 2,272 |
| Return on assets, % 0.6 0.6 0.5 0.4 0.4 |
| Return on equity, % 3) 6.6 6.9 6.1 5.0 5.0 |
| Equity/assets ratio, % 3) 8.3 8.4 8.9 7.5 8.3 |
| Solvency ratio, % 4) 18.4 14.5 16.7 15.8 14.4 |
| Impairment on loans and receivables 5) 13 17 -3 64 53 |
| Off-balance sheet items 4,589 4,322 5,435 6,026 6,236 |
| Average number of staff 2,006 2,097 2,286 2,765 3,035 |
| FTE at the end of period 6) 1,730 1,709 1,776 2,235 2,483 |
1) Total income comprises the income in the formula for the cost to income

2) Total operating expenses comprise the cost in the formula for the cost to
income ratio.
3) Capital securities have not been included in the equity.
4) Group capital adequacy ratio has been calculated both in accordance with
Credit Institutions Act Sect 9-10 and EU Capital Requirement Regulation
(CRR). For calculation of credit risk exposure amount in corporates, Danske
Bank Plc Group applies internal model (FIRB) and otherwise standard method.
For calculation of risk exposure amount in market and operational risk,
Danske Bank Plc Group applies standard method. Comparison figure for year
2013 is changed to reflect new regulation.
5) Impairment on loans and receivables includes impairment losses, reversals
of them, write-offs and
recoveries. (-) net loss positive.
6) Presentation has been changed for 2015, so that hourly paid staff has been
included in FTE. Comparative figures have not been changed.
Danske Bank Plc is part of the Danske Bank Group. In addition to Danske Bank
Plc, Danske Bank's operations in Finland include the Helsinki Branch of
Danske Bank A/S.

Financial Highlights of Danske Bank's operations in Finland

| 2015 2014 |
| Total operating income EURm 632 663 |
| Profit before taxes EURm 243 249 |
| Total assets at the end of period EURm 33,255 31,128 |
| Number of staff at the end of the period 1) 2,038 2,111 |
1) Presentation has been changed in 2015, so that hourly paid staff has been

Included in FTE. Comparative figure has been changed accordingly.

Outlook for 2016

Growth in Finnish economy is expected to be quite modest still during 2016 and
mainly driven by growth in exports. The weakening of the euro should support
Finland's exports especially to the USA. Russia's weak economic outlook and
sanctions will continue and will have an negative impact on Finnish export
and demand for domestic service.

The interest environment, especially short-term interest rates, are expected
to remain at low level also during 2016. Although the slowly increasing
unemployment level and low income growth are weakening households' purchasing
power, we expect private consumption to continue rising moderately. Low
interest rates and declining consumer prices will contribute positively in
this case. We expect our lending to personal and corporate customers to grow
in 2016 and thus we anticipate that our net interest income and total income
will be higher compared to 2015.

Expenses are expected to be at the same level as previous year even though the
Bank continues to have a strong focus on improving our cost efficiency and
operational processes. This is due to growth in banks' costs associated with
regulation, as the authorities are preparing for example bank resolution in
the form of various funds in Finland and in the entire banking Union.
Overall, we expect that our net profit for 2016 will be slightly higher than
2015 as loan impairment charges are expected to remain at low level.

This guidance is generally subject to uncertainty related to macroeconomic
forecasts. Our trading income and loan loss charges are particularly

Full Annual Report

The Danske Bank Plc Group's full Annual Report for January - December 2015 is
attached to this release as a pdf-file and is available at the bank's website

For further information:

Risto Tornivaara, CEO of Danske Bank Plc

For an interview with Risto Tornivaara, please contact Tomi
Koljonen/communications, tel. +358 50 422 0911.

Danske Bank is a modern bank that serves around million Finnish personal,
business and institutional customers with deep financial competence and
leading, innovative solutions. Danske Bank Plc is a part of the Nordic Danske
Bank Group.

Danske Bank Group

Danske Bank is a Nordic universal bank with strong regional roots and close
ties to the rest of the world. We serve more than 3.5 million personal,
business and institutional customers, and in addition to banking services, we
offer life insurance and pension, mortgage credit, wealth management, real
estate and leasing services and products.

Our vision is to be recognised as the most trusted financial partner, and we
are driven by a desire to create long-term value for our customers, investors
and the societies we are a part of.

Danske Bank is headquartered in Copenhagen and is listed on Nasdaq Copenhagen.

Danske Bank Plc - Financial Statement 2015


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Danske Bank Oyj via Globenewswire


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