Management Meets Its Full-Year Target in 2017; Net Income In Line With Our Expectations
Narrow-moat Danske published results in line with our estimates. Full-year net income for 2017 came in at DKK 20.9 billion, indicating a 5% increase year over year, slightly above both our estimate of DKK 20 billion and management-targeted net income. During the year, Danske kept its top line stable relative to 2016, driven by 6% growth in net interest income and 8% growth in fees, while other income declined due to one-offs last year. We deem the results and Danske’s performance in line and mai...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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