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Search resuls for: "Carsten Egeriis"


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Danske Bank hikes guidance, resumes dividends
  + stars: | 2023-07-21 | by ( Nikolaj Skydsgaard | ) www.reuters.com   time to read: +2 min
COPENHAGEN, July 21 (Reuters) - Danske Bank (DANSKE.CO) on Friday raised its full-year profit guidance and said it would resume paying dividends to its shareholders after posting forecast-beating earnings in the second quarter. Denmark's largest lender now expects net profit for 2023 to land in the range of 18.5 billion to 20.5 billion Danish crowns ($2.77 billion-$3.06 billion), up from an earlier estimate of between 16.5 billion and 18.5 billion crowns. Danske's net profit for the April-June quarter rose to 5 billion Danish crowns from 1.7 billion a year earlier, above analysts' expectations in a company-compiled poll of around 4.6 billion crowns. The better-than-expected results mirror those of rival Nordic banks Nordea (NDAFI.HE), SEB, DNB (DNB.OL) and Swedbank (SWEDa.ST), which beat analysts expectations when they published second-quarter results earlier this week. "The losses are lower than expected, and 1.5 billion crowns in loan loss provisions for the whole year acts as a built-in buffer for a further positive guidance change," Nordnet analyst Per Hansen said in a note.
Persons: Carsten Egeriis, Egeriis, SEB, Per Hansen, Nikolaj Skydsgaard, Tom Hogue Organizations: Danske Bank, Thomson Locations: COPENHAGEN, U.S, Denmark
"Danske Bank has during recent years made fundamental changes to refocus the bank, reduce our risk exposure, develop our organisation and accelerate our commercial momentum," said CEO Carsten Egeriis. Rival Nordic banks Nordea (NDAFI.HE) and DNB (DNB.OL) both have long-term ROE targets of more than 13%, while Swedbank (SWEDa.ST) has a goal of at least 15%. Danske Bank is Norway's third-biggest bank after DNB and Nordea with a market share of close to 5%, regulatory data shows. Danske also said it would double investments into the strategic development of the bank, including digital platforms, expert advisory services and sustainability. It plans to maintain its dividend payout ratio of between 40-60% of net profit.
Persons: Carsten Egeriis, Danske, JP Morgan, Nikolaj Skydsgaard, Terje Solsvik, Jason Neely Organizations: Bank, Danske Bank, Danske, Nordic, Thomson Locations: COPENHAGEN, United States, Denmark
Danske Bank books $1.9 billion provision in Estonia case
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: +1 min
COPENHAGEN, Oct 27 (Reuters) - Danske Bank (DANSKE.CO) on Thursday said it would book a 14 billion Danish crowns ($1.89 billion) provision in the third quarter related to the lender's involvement in a money laundering scandal in Estonia. "The discussions with U.S. and Danish authorities related to the Estonia matter are now at a stage where Danske Bank can reliably estimate the total financial impact of a potential coordinated resolution," CEO Carsten Egeriis said. As a consequence, Danske Bank now expects a net loss "better than" 5.5 billion crowns this year, down from a previous forecast for a 10 billion-12 billion crowns net profit. Danske Bank in 2018 booked a separate provision of 1.5 billion crowns. ($1 = 7.3921 Danish crowns)Reporting by Stine Jacobsen and Nikolaj Skydsgaard, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.
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