Note

1997
kr. '000

1996
kr. '000

Income from interest, etc.:

Interest on foreign assets

4,888,487

4,069,585

1

Interest on loans, etc.

1,351,587

1,766,966

Interest and dividend on bonds and shares, etc.

2,628,426

2,708,379

Commission and other income

6,226

9,772

8,874,726

8,554,702

Expenditure on interest, etc.:

Interest on foreign liabilities

69,887

62,059

2

Interest on deposits, etc. and certificates of deposit

3,580,900

3,307,240

3,650,787

3,369,299

Net income from interest

5,223,939

5,185,403

Expenses:

3

Administrative expenses

327,821

300,571

4

Expenses incidental to the note production

78,122

87,711

5

Expenses incidental to The Royal Mint

20,719

15,156

426,662

403,438

Profit on ordinary operations

4,797,277

4,781,965

6

The ship credit scheme

- 165,087

- 7,190

7

Commemorative coin, Queen Margrethe's silver jubilee

- 19,000

-

Other expenses

- 3,148

-

- 187,235

- 7,190

Profit before value adjustments, etc.

4,610,042

4,774,775

Profit before value adjustments, etc.

4,610,042

4,774,775

Value adjustments, etc.:

8

Value adjustment of gold

- 468,869

105,805

9

Value adjustment of foreign assets

1,617,092

138,013

10

Value adjustment of bonds and shares, etc.

- 134,289

849,103

1,013,934

1,092,921

Net profit for the year

5,623,976

5,867,696

Allocation:

Allocation to Value Adjustment Reserve

1,013,934

1,092,921

Allocation to General Reserves

1,383,013

1,432,433

Payable to central government

3,227,029

3,342,342