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Danske Bank today reported a decline in pre-tax earnings in the second quarter, which missed forecasts and said that year-to-date net income would be at the lower end of its range of forecasts.
The largest lender in Denmark reported a pre-tax profit of 5.49 billion Danish kroner for the three months to June 30, compared to 6.18 billion a year earlier.
Analysts had forecast a profit of $ 6.02 billion.
The bank said that it is still expecting net profit for the year between 18 and 20 billion crowns, but that it would probably be at the lower end this range because of the lower trading income.
"In the first half of In 2018, the momentum of our credit business continued, while the evolution of the financial markets had a negative effect, the global uncertainty and the reluctance of investors contributing in particular to a lower development of net trading income, "said Thomas F Borgen.He said the decline was partially offset by loan growth, rising net interest income and credit quality, which allowed the bank to continue canceling losses.
Browne, Country Manager at Danske Bank Ireland, said the corporate division and institutional the bank achieved another "satisfactory performance" by continuing to generate "solid returns" throughout the company. [19659002] "The main performance factors include increased activity in Ireland from our Nordic multinational clients, as well as increased participation of Danske Bank in the Irish wholesale financial services market, "said Browne.
He also stated that the "historic" appointment of the bank as a government banking provider demonstrated "the group's expertise in digital banking and the provision of innovative solutions to large corporations and client institutions"
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