[ad_1]
FILE PHOTO: The Danske Bank flag flies at the Estonian bank branch in Tallinn, Estonia on 3 August 2018. REUTERS / Ints Kalnins / File Photo
(Reuters) – Danske Bank's (DANSKE.COPre-tax earnings in the second quarter were lower than expected on Thursday, as interest rates were low and compliance costs increased as a result of the money laundering scandal at its Estonian branch.
Pre-tax profits in the second quarter rose from 5.49 billion the previous year to 4.76 billion Danish kroner ($ 716.6 million), thus missing an average forecast of 5.06 billion Danish Refinitiv data.
Its reported net profit of 4.0 billion Danish kroner was in line with the preliminary estimates of Danske's second quarter in early July.
Report by Nikolaj Skydsgaard. Edited by Jane Merriman
Source link
