Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

DANSKE BANK A/S

(DANSKE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Danske Bank beats fourth-quarter net profit expectations

share with twitter share with LinkedIn share with facebook
share via e-mail
02/05/2020 | 02:54am EDT
FILE PHOTO: A man walks into Danske bank headquarters in Copenhagen

Danske Bank beat fourth-quarter net profit forecasts on Wednesday and said it expects to earn a net profit between 8 to 10 billion Danish crowns ($1.18-1.48 billion) in 2020.

Chief Executive Chris Vogelzang said results were as expected, but negative interest rates, margin pressure and increased costs related to compliance had a "negative effect".

"All in all, our financial performance remains under pressure," Vogelzang said in a statement.

Late last year, Danske announced plans to get costs and compliance under control by 2023, while also aiming for a return on shareholders equity of 9-10%. It expects that number to be between 5 to 6% this year.

Danske, Denmark's biggest bank, admitted in 2018 that suspicious payments totaling 200 billion euros from Russia and elsewhere flowed through its branch in Estonia, triggering worldwide probes.

Jyske Bank analyst Anders Haulund Vollesen said today's results were "fairly undramatic", but added that costs were higher than expected.

"It is not very good, when a bank disappoints in that area in times, where costs are everything," Vollesen said.

The bank however reported a net profit of 5.0 billion Danish crowns ($738.5 million) in the fourth quarter, topping the 4.4 billion forecast by analysts on average, Refinitiv Eikon data showed.

The bank's most anticipated result, net interest income, also came in 12.6% above analysts' expectations at 5.54 billion in the fourth quarter.

It said it expected net interest income to be lower in 2020 as margin pressure and higher funding costs would offset volume growth. Lending in 2019 grew by 3%.

It said it would pay a dividend of 8.5 per share for 2019, above the 7.29 crowns forecast by analysts, and corresponding to 49% of reported net profit.

(Reporting by Nikolaj Skydsgaard; editing by Jason Neely and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
DANSKE BANK A/S -0.86% 73.4 Delayed Quote.-31.32%
JYSKE BANK -0.84% 164.35 Delayed Quote.-31.82%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.14% 79.6791 Delayed Quote.28.35%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on DANSKE BANK A/S
03/26DANSKE BANK A/S : -The US central bank is taking even more aggressive actions to..
AQ
03/23DANSKE BANK A/S : supports initiatives to mitigate the financial consequences of..
AQ
03/23SWEDBANK : pulls ex-CEO's golden parachute over money-laundering crisis
RE
03/20DANSKE BANK A/S : Fraudsters are taking advantage of the fear of COVID-19
AQ
03/19DANSKE BANK A/S : Setting the minimum requirement for own funds and eligible lia..
PU
03/19DANSKE BANK A/S : Frans Woelders joins Danske Bank's Executive Leadership Team
AQ
03/18DANSKE BANK A/S : The central banks are doing their best to help the economies i..
AQ
03/18DANSKE BANK A/S : Ex-dividend day for final dividend
FA
03/17DANSKE BANK A/S : Postponement of Danske Bank's annual general meeting called fo..
AQ
03/16DANSKE BANK A/S : sees lower net income this year due to coronavirus, suspends o..
RE
More news
Financials (DKK)
Sales 2020 41 488 M
EBIT 2020 13 272 M
Net income 2020 7 358 M
Debt 2020 -
Yield 2020 4,89%
P/E ratio 2020 9,53x
P/E ratio 2021 6,26x
Capi. / Sales2020 1,51x
Capi. / Sales2021 1,47x
Capitalization 62 662 M
Chart DANSKE BANK A/S
Duration : Period :
Danske Bank A/S Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DANSKE BANK A/S
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 112,43  DKK
Last Close Price 73,40  DKK
Spread / Highest target 172%
Spread / Average Target 53,2%
Spread / Lowest Target 2,18%
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
Sector and Competitors
1st jan.Capitalization (M$)
DANSKE BANK A/S-31.32%9 381
JPMORGAN CHASE & CO.-34.63%280 131
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED1.38%256 408
CHINA CONSTRUCTION BANK CORPORATION0.64%203 836
BANK OF AMERICA CORPORATION-37.42%188 455
BANK OF CHINA LIMITED0.00%136 162