It’s the biggest bank in Europe’s biggest economy. But as of this week, Deutsche Bank AG is smaller than Danske Bank A/S of Denmark.
Danske shares are outperforming peers as investors forecast a new share buyback program and continued declines in loan losses. Meanwhile, Deutsche said on Wednesday it expects to post a fourth-quarter loss after setting aside more money for legal battles and taking a restructuring charge. At 10 a.m in Copenhagen, Danske’s market value was about 23.8 billion euros ($25.8 billion) compared with 23.6 billion euros for Deutsche. Three years ago, Danske was worth 14.5 billion euros compared with Deutsche’s 33.6 billion euros.