Nordic banks – Statistical update – Danish lending May 2026

Research evidence excerpt

Nordic banks – Statistical update – Danish lending May 2026

Financials

Danish lending statistics – May 2026

Total lending up y-o-y and m-o-m

• Total nominal lending in May was up 4.0% y-o-y (corporate +6.2%; retail +2.7%) and increased by 0.2% m-o-m.

– Last month, total lending was up 4.0% y-o-y (corporate +5.7%; retail +3.0%).

• Mortgage nominal lending increased by 2.9% y-o-y (corporate +5.9%; retail +1.4%) and increased 0.4% m-o-m.

– Last month, mortgage lending was up 3.1% y-o-y (corporate +6.0%; retail +1.6%).

• Bank lending increased 7.7% y-o-y (corporate +7.0%; retail +8.4%) and decreased by 0.6% m-o-m (corporate -1.5; retail +0.3%).

– Last month, bank lending increased 7.1% y-o-y (corporate lending +5.2%; retail lending +9.0%).

• Total growth y-o-y for the Danish household mortgages (including m-t-m revaluation effects) increased on a y-o-y basis by 2.9% (+3.1% last

month y-o-y), and the m-o-m trend in May increased by 0.4% (April +0.5%). We continue to expect the overall nominal lending growth at these

levels. Growth y-o-y in deposits is increasing at 4.9% (+5.9% in April) as household deposit growth continues to normalise from the high levels

during the last 12-18 months, now at +4.5% (+5.7%), while we see more volatile developments for corporates +7.8% (8.5%).

Nordic total lending growth (y-o-y) DKKbn Danish deposits & y-o-y growth

Danish nominal lending growth (y-o-y) 21% 2,500 20% 65%

18%

55%

15% 2,000 15%

45%

12%

35% 1,500 10%

25% 9%

15% 6% 1,000 5%

5% 3%

500 0%

-5% 0%

-15% -3% 0 -5%