AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)
Markets

Danske Bank reports first-quarter profit above expectations

  • "We are making progress with the execution of our 2023 ambitions as planned," Egeriis said, referring to the banks strategy of cutting costs, increasing profitability and becoming more efficient.
Published April 28, 2021

COPENHAGEN: Danske Bank reported first-quarter profit on Wednesday above expectations and kept its full-year forecast amid an increase in lending and a continued focus on cutting costs.

"We saw a positive income development across our business and our cost measures continue to have an effect," newly appointed Chief Executive Carsten Egeriis said.

Egeriis took the helm of Denmark's biggest lender earlier in April after former CEO Chris Vogelzang quit after being named a suspect in an investigation into money-laundering at his former bank ABN Amro.

"We are making progress with the execution of our 2023 ambitions as planned," Egeriis said, referring to the banks strategy of cutting costs, increasing profitability and becoming more efficient.

Operating expenses fell 2% in the first quarter to 6.3 billion Danish crowns ($1.02 billion), while net profit came in at 3.1 billion Danish crowns ($503.28 million), above an average of 2.67 billion forecast by analysts in a Refinitiv poll.

Danske's maintained its outlook for 2021 with a net profit in the range of 9-11 billion Danish crowns.

Comments

Comments are closed.