Danske Bank profits nearly halved

Profit decrease due to goodwill writedown

Danske Bank ended 2014 with a profit, but not nearly as much as the previous year. After tax, the bank posted a 3.8 billion kroner profit for the year, which was significantly lower than the 7.1 billion it posted in 2013.

The decrease in profit was mainly due to a goodwill writedown of 9.1 billion kroner's worth of bank activity and long-term assessments in Finland, Northern Ireland and Estonia.

Had there been no writedown, the bank would have seen an 82 percent increase in profits over 2013 with a posting of 12.9 billion kroner.

Still some way to go
"We still have some way to go before we have fulfilled our ambitions and the bank's full potential," Thomas F Borgen, the bank's CEO, told DR.

The bank expects a net profit above 14 billion kroner in 2015, and the board has proposed a dividend of 5.5 kroner per share – more than double last year's 2 kroner dividend.

"We will continue to review our business and take new initiatives to ensure a return on shareholder's equity of above 12.5 percent in 2018 at the latest," Borgen told DR.  




  • The international who shaped Copenhagen

    The international who shaped Copenhagen

    Anna Maria Indrio is one of the most important architects in Denmark, having contributed to shaping Copenhagen into what it is today. Among her best-known projects are the extension of SMK and Arken, as well as the Natural History Museum and the Darwin Centre in London. She moved here 60 years ago, when “Copenhagen was gray and dormant. Predictions suggested it would become depopulated. But putting people at the center changed everything,” she said

  • Danish government passes amendment to increase citizenship fee by 50%

    Danish government passes amendment to increase citizenship fee by 50%

    Fees were raised to reflect processing costs and curb repeat applications, creating debate over whether the new charges erect barriers to political participation for internationals.

  • Internationals’ labour contributes 361 billion DKK to Denmark’s GDP, and it is growing strongly every year

    Internationals’ labour contributes 361 billion DKK to Denmark’s GDP, and it is growing strongly every year

    According to a report by the Danish Chamber of Commerce, internationals’ contribution is 12% of the country’s GDP. In 2023, it was 322 billion DKK, and in 2008, it was 136 billion DKK. “Internationals make a gigantic difference in our prosperity and welfare,” comments Morten Langager, the Director of Dansk Erhverv.

  • Inside Denmark’s innovation engine

    Inside Denmark’s innovation engine

    With half of its staff being international, the BioInnovation Institute reflects Denmark’s broader transformation into a global innovation hub. But can the country—and Europe—keep up the pace? “If reforms are made now, we can close the gap in ten years,” explains BII’s CEO

  • Denmark launches massive investment in the navy

    Denmark launches massive investment in the navy

    Two months ago, the Danish PM announced that military equipment should be purchased in a hurry. The first plans for the sea are now ready. Additional plans for warships will follow this summer.

  • International designers struggle to find jobs in Denmark

    International designers struggle to find jobs in Denmark

    Many internationals come to Denmark to work as designers, but the field appears to be one of the hardest to break into. The Copenhagen Post spoke with two internationals struggling to find their way into the industry.

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.