Danske Closes Turbulent 2018, but We Do Not See a Deteriorating Business
Danske reported DKK 14.7 billion in net profit for full-year 2018, which came as no surprise after its recently revised outlook. The largest factors impacting the bottom line this year have been donations related to the Estonia case as well as weaker equity markets negatively impacting trading markets. More importantly, however, we do not see a structural decline in Danske’s business. We plan to update updated our model for 2018 financials but do not anticipate a material change to our fair valu...Danske Bank is a diversified financial services firm. Through its subsidiaries, Co.'s activities include the provision of banking, mortgage finance, insurance, real estate brokerage, asset masnagement and trading in fixed income products, foreign exchange and equities. Co. operates international retail bank operations in 15 countries, with an emphasis in the Nordic region. Co. divides its operations into five segments: Banking Activities, Danske Markets, Danske Capital, Danica Pension and Other Activities. As of Dec 31 2011, Co. had total assets of DKK3,424,403,000,000 and total deposits of DKK848,994,000,000.
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