Danske’s 9M17 Trailing In Line: Year-to-Date Profit Generation Supported by Net Impairment Reversals
In our view, Danske delivered a satisfactory result for the first nine months of 2017, with net profit at DKK 15.3 billion, versus DKK 14.3 billion in the first nine months of 2016 (up 7%). Decent business and customer activity continued to support profitability, driven by the good macroeconomic environment in the Nordic countries. The boost in net income stemmed from healthy revenue generation, supported by a 7% increase in net interest income, 9% growth in net fee income, and DKK 632 million i...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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