DOW JONES NEWSWIRES
Danish bank Danske Bank A/S (DANSKE.KO) Thursday said it expects
loan impairment charges for its core business to come down in the
current year, as it posted growing fourth-quarter net profit from a
year earlier, helped by declining loan losses.
MAIN FACTS:
-Fourth-quarter net profit rose to DKK1.15 billion from DKK200
million a year earlier, against analysts' expectations for DKK1.23
billion.
-Loan impairment charges narrowed to DKK2.62 billion from
DKK4.79 billion against expectations for DKK2.82 billion.
-Net interest income rose to DKK6.20 billion from DKK6.18
billion against expectations for DKK6.23 billion.
-In line with expectations, Danske Bank didn't propose any
dividend for 2012.
-Given the persistently low interest rates and low economic
growth, the Group expects earnings before impairment charges in
2013 to remain at the 2012 level.
-Loan impairment charges for core activities are expected in
2013 to fall slightly below the level in 2012.
-The group expects the net profit for 2013 to range from DKK7.5
billion-10 billion, corresponding to a return on equity of 5.5%-7%
after tax. Earnings per share is expected to increase to
DKK7.5-10.0.
-Shares closed Wednesday at DKK104.50.
Write to Gustav Sandstrom at gustav.sandstrom@dowjones.com
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