Danske Bank said on Friday its annual net profit would be at the low end of its ...
FILE PHOTO: A Danske bank sign is seen on a bank's headquarters in Copenhagen, Denmark October 22, 2019. REUTERS/Nikolaj Skydsgaard
Denmark’s biggest lender now expects annual net profit at the lower end of the 13 billion to 15 billion Danish crown range, it said after posting a 21% rise in third-quarter profits, above analysts’ expectations. Danske, which is trying to restore trust in the bank after its involvement in one of the world’s biggest money-laundering scandals via its Estonia branch, also said it would reduce complexity and have the business “further digitized”.
Danske also said it would aim for a cost to income ratio in “the low 50s”. That came in at 58.5% in the first nine months.
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