Performance in 2023 Retail The gross exposure by rating category as regards retail exposures is illustrated below: Gross exposure by rating category – retail % 35 30 25 20 15 10 5 0 1 2 3 4 5 6 7 8 9 31 Dec 2023 The gross exposure consists of loans and advances, undrawn credit commitments, interest receivable. guarantees and counterparty risk on derivatives. The graph comprises exposures treated according to A-IRB. Exposures relating to customers in default are not included in the breakdown of rating categories. Impairment charges for exposures have not been deducted from the exposure. The gross exposure by rating category shows a high share in the 4 best rating categories. Corporate The gross exposure by rating category as regards corporate exposures is illustrated below: Gross exposure by rating category – corporate % 35 30 25 20 15 10 5 0 1 2 3 4 5 6 7 8 9 31 Dec 2023 The gross exposure consists of loans and advances, undrawn credit commitments, interest receivable. guarantees and counterparty risk on derivatives. The graph comprises exposures treated according to A-IRB. Exposures relating to customers in default are not included in the breakdown of rating categories. Impairment charges for exposures have not been deducted from the exposure. The gross exposure by rating category shows a high share in 4 best rating categories. Reference is made to the note on credit risk on page 134 and the separate publication “Credit Risk 2023”. Solvency Group – year-end (DKKm) REA CET1 capital T1 capital Total capital CET1 ratio T1 capital ratio Capital ratio 2023 61,896 11,671 12,416 13,056 18.9 20.1 21.1 2022 60,472 10,484 11,227 11,863 17.3 18.6 19.6 At year-end 2023 the CET1 ratio and the capital ratio stood at 18.9% and 21.1% respectively compared to 17.3% and 19.6% respectively at year-end 2022. Capital ratio in 2023 Capital ratio at 1 Jan 2023 19.6 22,4 Share buyback DKK 600m 1.0 Profit for the year 5.5 Proposed dividend 2023 Rise in REA 2.8 0.5 Deductions etc 0.3 Capital ratio at 31 Dec 2023 21.1 18.0 19.0 20.0 21.0 22.0 23.0 24.0 Increase Decrease At 31 December 2023 the individual solvency need represented 10.2% (2022: 10.8%). The solvency need consists of a minimum capital requirement of 8% under Pillar I and a capital add-on under Pillar II. Approximately 56% of the solvency need must be covered by CET1 capital, equal to 5.7% of the risk exposure amount. Solvency of the parent At year-end 2023 the CET1 ratio and the capital ratio stood at 18.3% and 20.4% respectively (2022: 16.8% and 19.0%). 20 Annual Report 2023
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