Danske Issues Profit Warning, Lowers Full-Year Guidance
Danske Bank issued a profit warning ahead of its second-quarter results, which are expected for release July 18. Most notably, the outlook range for 2019 net profits was reduced by DKK 1 billion, to DKK 13 billion-15 billion. Expenses are expected to come in around DKK 25.5 billion-26 billion for the full year, up from around DKK 25 billion previously. Management cited weak momentum in income generation driven by margin pressure and weak trading income in the second quarter, which is expected to...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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