Danske Bank second quarter pre-tax profit hit by costs, low interest rates
Reuters
Published Jul 18, 2019 07:21
Danske Bank second quarter pre-tax profit hit by costs, low interest rates
(Reuters) - Danske Bank's (CO:DANSKE) second-quarter pretax profit came in below expectations on Thursday hit by low interest rates and higher costs associated with compliance in the aftermath of a money-laundering scandal at its Estonian branch.
Second-quarter pre-tax profits fell to 4.76 billion Danish crowns (576.05 million pounds) from 5.49 billions the previous year, missing a mean forecast of 5.06 billion by analysts according to Refinitiv data.
Its reported net profit of 4.0 billion Danish crowns was in line with Danske's preliminary second-quarter estimates from early July.
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Written By: Reuters
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