Profit after tax for Q1 2020 represents DKK 55m - Seite 2

Core income represents DKK 960m in Q1 2020 – the highest level of core income since Q3 2018. As a result of the positive development in core income an increase of 7% can be recorded for Q1 2020 compared to Q1 2019 and an increase of 4% compared to Q4 2019.

Core income is composed as follows:

DKKm	Q1 2020	Q1 2019	Index	Q1 2020	Q4 2019	Index
Net interest etc	389	381	102	389	363	107
Mortgage credit	154	141	109	154	153	101
Payment services	40	48	83	40	39	103
Remortgaging and loan fees	48	34	141	48	52	92
Commisison and brokerage	107	78	137	107	89	120
Commission etc investment funds and pooled plans	73	84	87	73	78	94
Asset management	70	66	106	70	72	97
Custody account fees	20	18	111	20	18	111
Other operating income	59	50	118	59	62	95
Total	960	900	107	960	926	104

Net interest etc constitutes DKK 389m in Q1 2020 compared to DKK 381m in Q1 2019 and DKK 363m in Q4 2019 respectively. The DKK 26m increase compared to Q4 2019 is mainly attributable to a widening range of deposits on which customers pay negative interest.