Better than expected performance of Danske Bank as their profit grow


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Tuesday, 09 August 2011
Danske Bank, the largest in Denmark, reported a profit before tax of Dkr2.081 million for the second quarter of this year.
Corresponding period last year, the profit was Dkr1.741 million. Analysts who spoke to Reuters had expected a profit of Dkr1.66 million.


Revenues amounted to Dkr11.512 million compared to Dkr12.056 million. Net interest income fell to Dkr5.785 million compared with Dkr5927 million.
The performance was 15 percent better than expected, adjusted for the lower cost related to collapsed banks, Fjordbank Mors and Amagerbanken.

The cost to the Deposit Guarantee Fund for Danish Fjord Bank Mors which collapsed recently collapse was at Dkr0.5 billion in the quarter, while Dkr0.2 billion was recovered from Amagerbanken.
By Team

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