Today
Apr 25, 2015, 5:59 pm
Mostly cloudy with showers
12°C


DKK100 - €13.40 - $14.57
Today
Apr 25, 2015, 5:58 pm

Dansk Bank adjusts after strong interim report

Net profit up 95 percent compared to the first nine months of 2013

Gregory Pardlo photographed in Bruges (photo Facebook)
October 30th, 2014 12:18 pm| by admin
facebooktwittergoogle_pluspinterestmail

Danske Bank has decided to adjust its new profits guidance for 2014 upwards after its financial results (here in English) for the first nine months of the year showed net profits of 10.1 billion kroner – a 95 percent increase compared to the first nine months of 2013.

According to the Danske Bank press release, the considerable increase was due to growth in most income lines, a reduction in expenses and lower impairments.

”In the third quarter, we continued to make progress in strengthening our position as a Nordic universal bank by focusing on relations with our customers and improving financial performance," Thomas F Borgen, the CEO of Danske Bank, said in the press release.

"In the first nine months of 2014, we increased net profits by 95 percent compared to the profit for the same period last year, which shows that our initiatives are working. The results are encouraging, but we still have some way to go before reaching our long-term targets.”

READ MORE: Danske Bank's customer exodus abating

Net profits adjusted up
The solid results during the first nine months of 2014 means that Danske Bank's annual net profit expectations for the year have been adjusted up to 11.5-13.5 billion kroner from its previously expected 10-13 billion kroner.

The third quarter results showed a profit before tax of 4.5 billion kroner, down slightly from the second quarter's 5.0 billion kroner.

Total income for the third quarter fell by 4 percent compared to the previous quarter, while expenses decreased by 1 percent.

Somebody said free hot chocolate and cake? Now we can smile to the Queen  (photo: Bev Lloyd Roberts)
Out and about: No, we watched the queen from our balcony
  It’s just as well that Queen Margarethe didn’t go to Fakta (l...
VenomAB co-founder Alexandra Bak Jakobsen hopes to have the first batch of antivenom ready by 2018
Biotech startup taking on a venomous neglected killer
Most people in Denmark can go through life without having to worry much abo...
Karina was born in Copenhagen but raised on Belgian waffles. She has lived in six different countries and speaks just as many languages. She is a psychologist, couples therapist and university lecturer. As an academic she has worked with expat issues for more than ten years. Find her at karinalins.com
Mental Floss: The pursuit of unhappiness
  One early Monday morning, while dropping my kids off at school, a...
Nielsen's body was submerged under water in a pit near Herlufmagle (photo: Guido Gerding)
Dead man found in south Zealand identified
The body found in a pit near Herlufmagle in South Zealand on Wednesday afte...
The bony bore, as nicknamed by the kids of Charles Dickens when he visited them in England, will get to see exotic destinations (photo: Norwegian)
Norwegian honours Hans Christian Andersen on 787
Norwegian airline’s most recent Danish press coverage has been about stri...
'The Rams' are louder than bombs (photo: Motlys,  Sturla Brandth Grøvlen)
Two Danish co-productions running for prizes at Cannes
Movies 'Louder than bombs' and 'The Rams', co-produced by Danish film produ...