Danske Bank Sinks After Revenue Drops Across Income Segments
- Profit rose last quarter after bank cut costs, impairments
- CEO says bank is adopting a `cautious' approach in Sweden
Danish Regulator Offers Guidance to Danske Bank
This article is for subscribers only.
Danske Bank said revenue sank 10 percent last quarter, led by a decline in trading and net interest income, as Scandinavia’s biggest lender after Nordea resorts to cost cutting to stay profitable.
Danske reported net income of 3.67 billion kroner ($538 million), 12 percent up on a year earlier, but below the 3.84 billion-krone estimate in an analyst survey compiled by Bloomberg. Net interest income fell 7 percent, while trading income plunged 36 percent.