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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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Consortium of Nordic Banks Buy Swedish Clearing House Bankgirot

10/06/2020 | 10:38am EST

By Dominic Chopping

STOCKHOLM--A group of Nordic banks agreed on Tuesday to buy Swedish clearing house Bankgirocentralen BGC AB.

The P27 Nordic Payments Platform, a joint initiative formed by Danske Bank AS, Svenska Handelsbanken AB, Nordea Bank Abp, OP Financial Group, Skandinaviska Enskilda Banken AB and Swedbank AB, has agreed to buy Bankgirot as it seeks to create a common payment platform in the Nordics.

Bankgirot is a Swedish clearing system used for account-to-account payments and handles transactions of around 73 billion Swedish kronor ($8.2 billion) daily, including through its real-time payment service BiR that enables Sweden's instant payment system Swish.

Bankgirot was established in 1959 by Swedish banks and enables services including Swish, Autogiro--a direct-debit service--and electronic invoicing. It is currently owned by Danske Bank, Handelsbanken, Lansforsakringar Bank, Nordea, SEB, Skandiabanken and Swedbank.

"P27's acquisition of Bankgirot is a very important step in our ambition to build a solid Nordic clearing infrastructure," said P27 Chief Executive Lars Sjogren. "This will enable the Nordics to take the lead in building the world's first integrated cross-border and cross-currency payments region, facilitating the needs of banks, consumers and society at large."

P27 expects the Bankgirot acquisition to be completed in the first quarter of 2021.

No financial details were disclosed.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

10-06-20 1037ET

Stocks mentioned in the article
ChangeLast1st jan.
DANSKE BANK A/S 1.89% 104.95 Delayed Quote.-2.64%
NORDEA BANK ABP. 1.89% 74.99 Delayed Quote.-0.86%
OP FINANCIAL LIMITED 0.00% 0.93 End-of-day quote.-38.00%
SKANDINAVISKA ENSKILDA BANKEN AB 2.17% 93.4 Delayed Quote.6.04%
SVENSKA HANDELSBANKEN AB 2.38% 87.9 Delayed Quote.-12.88%
SWEDBANK AB 0.08% 156.86 Delayed Quote.12.48%
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Financials
Sales 2020 42 128 M 6 707 M 6 707 M
Net income 2020 4 245 M 676 M 676 M
Net Debt 2020 - - -
P/E ratio 2020 22,1x
Yield 2020 2,03%
Capitalization 87 822 M 13 946 M 13 981 M
Capi. / Sales 2020 2,08x
Capi. / Sales 2021 2,07x
Nbr of Employees 22 582
Free-Float 78,4%
Chart DANSKE BANK A/S
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Technical analysis trends DANSKE BANK A/S
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 111,80 DKK
Last Close Price 103,00 DKK
Spread / Highest target 74,8%
Spread / Average Target 8,54%
Spread / Lowest Target -19,0%
EPS Revisions
Managers
NameTitle
Chris Vogelzang Chief Executive Officer
Karsten Dybvad Dalsjö Chairman
Frans Woelders Group Chief Operating Officer
Stephan Engels Chief Financial Officer
Fredrik Lindstrom Group Chief Information Officer
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