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Disappointing financial result for Danske Bank
Af Uffe Hansen
09-02-2012
10:11
CEO Peter Straarup, Danske Bank, does not meet the analysts’ expectations in his last annual accounts as the bank’s top executive.
Net profit for the year was DKK 1.7 billion against the analysts’ expectations for DKK 1.9 billion. On top of that, the loan impairment charges amounted to DKK 13.2 billion, over DKK 1 billion over what was expected, after a challenging year.
“In 2011, the Danske Bank Group posted a pre-tax profit of DKK 4.2 billion. The net profit was DKK 1.7 billion. The result was unsatisfactory and lower than expected because of the considerable financial turbulence and economic downturn in the second half of the year,” Danske Bank wrote in its annual report.
The group’s total income decreased 6 per cent to DKK 43.4 billion, whereas the analysts, according to Ritzau Finans, had expected an even sharper decrease. The decrease is mainly due to falling income from Danske Bank’s insurance activities.
“In 2011, the Danske Bank Group posted a pre-tax profit of DKK 4.2 billion. The net profit was DKK 1.7 billion. The result was unsatisfactory and lower than expected because of the considerable financial turbulence and economic downturn in the second half of the year,” Danske Bank wrote in its annual report.
The group’s total income decreased 6 per cent to DKK 43.4 billion, whereas the analysts, according to Ritzau Finans, had expected an even sharper decrease. The decrease is mainly due to falling income from Danske Bank’s insurance activities.
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*****||*****Disappointing financial result for Danske Bank *****||*****CEO Peter Straarup, Danske Bank, does not meet the analysts’ expectations in his last annual accounts as the bank’s top executive.
Net profit for the year was DKK 1.7 billion against the analysts’ expectations for DKK 1.9 billion. On top of that, the loan impairment charges amounted to DKK 13.2 billion, over DKK 1 billion over what was expected, after a challenging year.*****||*****
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