Danske Bank A/S Q1 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst : Sofie from JP Morgan. I was wondering on the GDP decline and one of your peers that has given growth guidance on 5% decline in GDP versus their estimates, would you be able to give a similar guidance. What the magnitude of your loan losses would be if GDP again, let's say, 5% lower than expected? And similarly, your kind of provisions, what kind of oil price assumptions, have you assumed? And if oil prices go down $10 a barrel, what impact would that have on your provision? So that will be my first question. Secondly, I was wondering if you could just share with us the details of your customers that actually have been in holidays. And if you expect these payment holidays to eventually translate into higher NPLs. And then thirdly, I know you're not regulated by Europe, but did you get any benefit from this ID software intangible benefit that was announced yesterday by European Commission? And if so, how much should we expect?

Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst : Yes. My third question was basically, yesterday, the European Commission announced that banks certainly need to do the software intangible deduction from capital going forward. So I was just wondering if that's going to happen in Denmark. And if so, what potentially impact on Danske is?