Danske Bank group has reported annual profit of DKK20.9bn (€2.8bn) and return on shareholder equity of 13.6% for 2017, helped by growth in the asset management business line.
Asset management AUM grew to DKK911bn (€122bn) by the end of 2017 (excluding assets attributable to the life business, or under advice, adding these would take total AUM to DKK1,530bn (€205bn), from DKK848m (€113bn) at the end of 2016, a rate of increase of 8%, which the bank said was boosted by net sales, premiums and market value appreciation. Combined institutional and retail net sales in asset management hit DKK20.9bn (€2.8bn) against less than half that, DKK8.9bn (€1.2bn) reported for 2016.
On the point of performance, Danske said 70% of all investment products beat their benchmarks, up from a ratio of 65% in 2016. Over three years, some 81% were above benchmark; it added that Danske Invest received the Morningstar Award for best equity fund manager in Denmark for a ninth consecutive year. Danske Bank won an award for best Danish fund selector for a seventh year in a row.
Looking ahead, and following the establishment over the past year of a joint CIO function across the AM and Danica Pension business lines, the group is looking to “further strengthen our solutions, business and offerings within alternative and ESG investments.”
“These are all areas, which we believe are important to successfully navigate in a dynamic market space influenced by numerous factors.”
To read the full annual report click here: https://danskebank.com/-/media/danske-bank-com/file-cloud/2018/2/annual-report-2017-.-la=en.pdf