Beleaguered Danske Bank cuts outlook for profit
With negative interest rates and a $230bn money-laundering scandal, the Danish bank is facing gloomy times
09 July 2019 - 12:52
Copenhagen — Danske Bank, contending with negative interest rates and a money-laundering scandal, cut its outlook for profit this year after trading income fell short of expectations and compliance costs mount.
The Danish lender now expects profit of 13-billion kroner ($1.9bn) to 15-billion, down from a previous range of 14-billion kroner to 16-billion. The company said second-quarter net income will probably be about 4-billion kroner, missing the 4.36-billion projected by analysts...
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