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Other Areas comprises real property, Group support functions and the elimination of returns on own shares and bonds, among other things.
The pre-tax profit of Other Areas amounted to DKr501m in the first quarter of 2008, against a loss of DKr9m in the same period a year ago. This development was owing primarily to proceeds of DKr333m from property sales.
The portion of customer savings invested in Danske Bank shares is subject to special accounting regulation: The return on customers’ savings must be recognised in the income statement, whereas the return on share investments must be eliminated in the accounts. This elimination led to income of DKr65m in the first quarter of 2008, whereas the Group expensed DKr121m for the elimination in the first quarter of 2007. |