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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Danske Bank A/S    DANSKE   DK0010274414

DANSKE BANK A/S

(DANSKE)
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Danske Bank A/S : will in Denmark lower interest rates to -0.75% for personal customers with deposits of more than DKK 1.5 million for customers with a NemKonto account at the bank and DKK 750,000 for customers without a NemKonto account Headline

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02/21/2020 | 08:21am EDT

Danske Bank has so far exempted personal customers from having to pay negative interest rates, but from 1 June 2020, the interest rate in Denmark will be reduced to -0.75% for the following credit balances.

DKK 1.5 million in total on own accounts - for customers with NemKonto agreements

DKK 750,000 in total on own accounts - for customers without a NemKonto agreement.

We must expect that the unusually low level of interest rates and negative interest rates will continue for years to come. At the same time, we can see increased interest in placing money with us from customers with whom we do not otherwise have other transactions. This is unsustainable in the long term and we feel obliged to pass on the unusual level of interest rates on very large deposits. The interest rate cut covers less than one per cent of our personal customers, says Thomas Mitchell, Danske Bank's head of personal customers in Denmark.

The interest rate change will take effect on 1 June, so customers with large deposits that will be affected by the interest rate cut will have time to get advice and decide on possible alternatives.

When we set different limits for when negative interest rates will materialize, it is partly in the interests of our existing customers and partly in order to give specific benefits to customers who gather their business with us, says Thomas Mitchell. Danske Bank's head of personal customers in Denmark.

The interest rate applies to deposit accounts with the exception of pension savings, investment accounts (such as June, Flexinvest Fri, asset rent, etc.), child savings account, Danske Gave, Danske Gave Plus, skodekonto, buyer account, remortgaging account and building financing account. The priority account will only be affected by the credit balance that exceeds the priority.

Further information on interest rate changes is available at www.danskebank.dk

Danske Bank

Stefan Singh Kailay

Head of Press Relations, Danske Bank Group

Phone:	+ 45 14 14 00
Email:	stkai@danskebank.dk

Journalists are also welcome to contact our Press Office by phone +45 45 14 14 00, day and night.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (DKK)
Sales 2020 41 488 M
EBIT 2020 13 272 M
Net income 2020 7 358 M
Debt 2020 -
Yield 2020 4,85%
P/E ratio 2020 9,62x
P/E ratio 2021 6,31x
Capi. / Sales2020 1,52x
Capi. / Sales2021 1,49x
Capitalization 63 208 M
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Technical analysis trends DANSKE BANK A/S
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 16
Average target price 112,43  DKK
Last Close Price 74,04  DKK
Spread / Highest target 170%
Spread / Average Target 51,8%
Spread / Lowest Target 1,30%
EPS Revisions
Managers
NameTitle
Chris Vogelzang Chief Executive & Operating Officer
Karsten Dybvad Dalsjö Chairman
Jacob Aarup-Andersen Chief Financial Officer
Charlotte Hoffmann Director
Carol Frances Sergeant Vice Chairman
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