trending Market Intelligence /marketintelligence/en/news-insights/trending/n4LEKE3E4BVe0B7LtwulqA2 content esgSubNav
In This List

Danske Bank further lifts 2019 profit forecast

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks

Blog

Anticipate the Unknown A Fundamentals Approach to Detect Early Signs of Private Company Credit Deterioration


Danske Bank further lifts 2019 profit forecast

Danske Bank A/S raised its 2019 profit outlook for the second time in less than a week, this time to take into account several tax-related extraordinary items, annual goodwill impairment testing and other elements.

The bank now expects its net profit for the year to come in at approximately 15 billion Danish kroner, compared to in the middle of a 13 billion kroner to 15 billion kroner range previously.

Danske Bank said the tax-related extraordinary items are expected to have an impact of roughly 1.1 billion kroner. It also expects to recognize an impairment charge on goodwill and other intangible assets of about 2.0 billion kroner.

Other factors consist of an increase in pretax operating expenses of 1.0 billion kroner from operational risk-related losses, transformation costs and portfolio adjustments, pretax loan impairment charges of 400 million kroner, and negative value adjustments in its noncore operations of about 100 million kroner before tax.

The lender, which is at the center of a €200 billion money-laundering scandal, said it still expects to reach a return on shareholders' equity in the range of between 5% and 6% for 2020. Danske will publish its 2019 results Feb. 5, 2020.

As of Dec. 5, US$1 was equivalent to 6.73 Danish kroner.