January 29, 2023


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Danske cuts profit outlook due to challenging financial market conditions

Danske Financial institution indications are witnessed on the bank’s headquarters in Copenhagen, Denmark Oct 22, 2019. REUTERS/Jacob Gronholt-Pedersen

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July 10 (Reuters) – Danske Bank (DANSKE.CO) on Sunday reduced its entire-year internet income outlook, hurt by rapidly growing fascination fees and unfavorable economic market place conditions.

Danske revised web income to 10 billion to 12 billion Danish crowns ($1.64 billion) from the past assistance of 13-15 billion crowns.

“… we revise our web earnings assistance for the yr dependent on appreciably reduce expectations for trading revenue and profits from our insurance policies business enterprise,” Chief Executive Officer Carsten Egeriis said in a push launch.

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The organization also marginally revised its price steering to about 25.5 billion crowns.

In April, the lender noted a decreased-than-expected initial-quarter income, citing increased charges and turbulent economical marketplaces. go through much more

($1 = 7.3037 Danish crowns)

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Reporting by Baranjot Kaur and Maria Ponnezhath in Bengaluru
Editing by Matthew Lewis

Our Requirements: The Thomson Reuters Rely on Concepts.