Danske's First-Quarter Profits Fall 35%, Forcing Management to Revisit Full-Year Guidance
Danske reported first-quarter results of DKK 3 billion, down 35% compared with the same period last year, prompting management to lower net profit guidance downward for the full year. The target of DKK 14 billion-DKK 16 billion in net profits for 2019 remains unchanged; it now includes DKK 1.3 billion in expected gains from the sale of Danica Pension Sweden, however. Our full-year profit expectation sits even below the now revised guidance at DKK 12 billion, as such we are not surprised with the...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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