Danske Bank vows tighter controls

Denmark’s Danske Bank, caught up in a massive money laundering scandal, said yesterday its 2018 earnings plunged nearly 30 per cent and promised tighter controls to prevent any further regulatory lapses.

Net profit came in at 15 billion kroner (2 billion euros) for the year, down 28 per cent on 2017, but largely in line with analyst forecasts and enough to reassure investors Danske Bank’s core business was sound. The shares were up nearly two per cent in mid-morning trade in Copenhagen while the broader market was showing a gain of 1.4 percent.

“The results were largely in line with expectations and investors were reassured that the core Danske Bank businesses are going well,” Sydbank analyst Mikkel Emil Jensen told the news agency.

Danske Bank vows tighter controls

Denmarks Danske Bank, caught up in a massive money laundering scandal, said yesterday its 2018 earnings plunged nearly 30 per cent and promised tighter controls to prevent any further regulatory lapses. Net profit came in at 15 billion kroner (2 billion euros) for the year, down 28 per cent on 2017, but largely in line with analyst forecasts and enough to reassure investors Danske Banks core business was sound. The shares were up nearly two per cent in mid-morning trade in Copenhagen while the broader market was showing a gain of 1.4 percent. The results were largely in line with expectations and investors were reassured that the core Danske Bank businesses are going well, Sydbank analyst Mikkel Emil Jensen told the news agency.