Danske Bank A/S

Danske Bank is a diversified financial services firm. Through its subsidiaries, Co.'s activities include the provision of banking, mortgage finance, insurance, real estate brokerage, asset masnagement and trading in fixed income products, foreign exchange and equities. Co. operates international retail bank operations in 15 countries, with an emphasis in the Nordic region. Co. divides its operations into five segments: Banking Activities, Danske Markets, Danske Capital, Danica Pension and Other Activities. As of Dec 31 2011, Co. had total assets of DKK3,424,403,000,000 and total deposits of DKK848,994,000,000.
  • TickerDANSKE
  • ISINDK0010274414
  • ExchangeNasdaq Nordic Copenhagen
  • SectorBanks
  • CountryDenmark

Analysts

Håkon Astrup

Danske Bank (Buy, TP: DKK135.00) - Resetting expectations

On the back of this week’s revised 2019 outlook and release of the preliminary Q2 figures, we have cut our 2019–2021e EPS by ~5%. The negative revisions mainly relate to higher compliance costs and a structurally challenging trading environment. As the key Q2 numbers are preannounced, we expect the main focus in connection with the report to be on longer-term initiatives to restore profitability. We reiterate our BUY and DKK135 target price.

ING
Suvi Platerink Kosonen

Danske Bank/Stick to the safer options on the liability structure with the deteriorating outlook

Earlier today Danske Bank downgraded its outlook for the full year 2019. Based on the preliminary 2Q19 numbers we estimate that Danske's profitability has substantially deteriorated YoY. The poor development is driven especially by higher costs. Danske Bank did not publish its capital ratios and it will report its full set of 2Q19 numbers on 18 July. With the weakening outlook we would stick to the safer alternatives, such as preferred senior, on the bank's liability structure.

Niklas Kammer

Morningstar | Danske Issues Profit Warning, Lowers Full-Year Guidance

Danske Bank issued a profit warning ahead of its second-quarter results, which are expected for release July 18. Most notably, the outlook range for 2019 net profits was reduced by DKK 1 billion, to DKK 13 billion-15 billion. Expenses are expected to come in around DKK 25.5 billion-26 billion for the full year, up from around DKK 25 billion previously. Management cited weak momentum in income generation driven by margin pressure and weak trading income in the second quarter, which is expected to continue in the second half of the year. Additionally, higher compliance and anti-money-laundering ...

Niklas Kammer

Morningstar | Danske Issues Profit Warning, Lowers Full-Year Guidance. See Updated Analyst Note from 09 Jul 2019

Danske Bank issued a profit warning ahead of its second-quarter results, which are expected for release July 18. Most notably, the outlook range for 2019 net profits was reduced by DKK 1 billion, to DKK 13 billion-15 billion. Expenses are expected to come in around DKK 25.5 billion-26 billion for the full year, up from around DKK 25 billion previously. Management cited weak momentum in income generation driven by margin pressure and weak trading income in the second quarter, which is expected to continue in the second half of the year. Additionally, higher compliance and anti-money-laundering ...

Niklas Kammer

Danske Issues Profit Warning, Lowers Full-Year Guidance

Danske Bank issued a profit warning ahead of its second-quarter results, which are expected for release July 18. Most notably, the outlook range for 2019 net profits was reduced by DKK 1 billion, to DKK 13 billion-15 billion. Expenses are expected to come in around DKK 25.5 billion-26 billion for the full year, up from around DKK 25 billion previously. Management cited weak momentum in income generation driven by margin pressure and weak trading income in the second quarter, which is expected to...

Danske Bank A/S: Update to credit analysis

Our credit view of Danske Bank A/S reflects improving asset quality and capitalisation but also risks from ongoing investigations.

Danske Bank A/S: Regulator orders Danske Bank to cease operations in Estonia, a credit negative

The regulatory order to stop operating in Estonia damages the bank’s reputation, despite Estonia's and the Baltic region's relatively minimal contribution to group revenue.

Danske Bank A/S: Update following downgrade of LT deposit and senior unsecured debt ratings of Danske Bank to A2

Our credit view of Danske Bank A/S reflects improving asset quality and capitalisation but also risks from ongoing investigations.

Danske Bank A/S: Danske Bank says oversight deficiencies may have facilitated money laundering, a credit negative

The report's findings are credit negative for Danske Bank because they expose the bank to potential regulatory investigations and penalties, and to reputational damage.

Danske Bank A/S: Update following Q417 and rating action early February

Our credit view of Danske Bank A/S, reflects its solid credit fundamentals, including continued strengthening of asset quality, capitalisation and profitability.

Håkon Astrup

Danske Bank (Buy, TP: DKK135.00) - Resetting expectations

On the back of this week’s revised 2019 outlook and release of the preliminary Q2 figures, we have cut our 2019–2021e EPS by ~5%. The negative revisions mainly relate to higher compliance costs and a structurally challenging trading environment. As the key Q2 numbers are preannounced, we expect the main focus in connection with the report to be on longer-term initiatives to restore profitability. We reiterate our BUY and DKK135 target price.

Niklas Kammer

Morningstar | Danske Issues Profit Warning, Lowers Full-Year Guidance

Danske Bank issued a profit warning ahead of its second-quarter results, which are expected for release July 18. Most notably, the outlook range for 2019 net profits was reduced by DKK 1 billion, to DKK 13 billion-15 billion. Expenses are expected to come in around DKK 25.5 billion-26 billion for the full year, up from around DKK 25 billion previously. Management cited weak momentum in income generation driven by margin pressure and weak trading income in the second quarter, which is expected to continue in the second half of the year. Additionally, higher compliance and anti-money-laundering ...

Niklas Kammer

Morningstar | Danske Issues Profit Warning, Lowers Full-Year Guidance. See Updated Analyst Note from 09 Jul 2019

Danske Bank issued a profit warning ahead of its second-quarter results, which are expected for release July 18. Most notably, the outlook range for 2019 net profits was reduced by DKK 1 billion, to DKK 13 billion-15 billion. Expenses are expected to come in around DKK 25.5 billion-26 billion for the full year, up from around DKK 25 billion previously. Management cited weak momentum in income generation driven by margin pressure and weak trading income in the second quarter, which is expected to continue in the second half of the year. Additionally, higher compliance and anti-money-laundering ...

Niklas Kammer

Danske Issues Profit Warning, Lowers Full-Year Guidance

Danske Bank issued a profit warning ahead of its second-quarter results, which are expected for release July 18. Most notably, the outlook range for 2019 net profits was reduced by DKK 1 billion, to DKK 13 billion-15 billion. Expenses are expected to come in around DKK 25.5 billion-26 billion for the full year, up from around DKK 25 billion previously. Management cited weak momentum in income generation driven by margin pressure and weak trading income in the second quarter, which is expected to...

Niklas Kammer

Danske Company Report

Danske reported first-quarter results of DKK 3 billion, down 35% compared with the same period last year, prompting management to lower net profit guidance downward for the full year. The target of DKK 14 billion-DKK 16 billion in net profits for 2019 remains unchanged; it now includes DKK 1.3 billion in expected gains from the sale of Danica Pension Sweden, however. Our full-year profit expectation sits even below the now revised guidance at DKK 12 billion, as such we are not surprised with the...

1 director bought

A director at Danske Bank A S bought 1,258 shares at 112.450DKK and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Håkon Astrup ...
  • Mats Bye
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Christoffer Wang Bjørnsen ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Stefan Gauffin

Northern Lights

Christer Magnergård ...
  • Frank Maaø
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Mattias Montgomery
  • Ole-Andreas Krohn
  • Paul Harper
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Alexander Aukner ...
  • Antti Kansanen
  • Håkon Astrup
  • Helge André Martinsen
  • Jon Masdal
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Paul Harper
  • Rune Majlund Dahl

Northern Lights

Despite a better risk assessment and improving to Neutral, DANSKE BANK A/S remains under pressure

DANSKE BANK A/S (DK), a company active in the Money Center Banks industry, improves its market behaviour and slightly increases its general evaluation. The independent financial analyst theScreener just upgraded the stock market behaviour as moderately risky. At a fundamental level, theScreener confirms 1 out of 4 possible stars; the general evaluation is slightly increased to Neutral but the title remains under pressure. As of the analysis date May 24, 2019, the closing price was DKK 112.80 and its target price was estimated at DKK 98.66.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

ING
Suvi Platerink Kosonen

Danske Bank/Stick to the safer options on the liability structure with the deteriorating outlook

Earlier today Danske Bank downgraded its outlook for the full year 2019. Based on the preliminary 2Q19 numbers we estimate that Danske's profitability has substantially deteriorated YoY. The poor development is driven especially by higher costs. Danske Bank did not publish its capital ratios and it will report its full set of 2Q19 numbers on 18 July. With the weakening outlook we would stick to the safer alternatives, such as preferred senior, on the bank's liability structure.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Danske Bank

Danske Bank again lowers its outlook and 2Q19 profitability looks weak; we prefer Danske preferred senior debt over Nordea NPS

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Danske Bank, Groupe BPCE, Telefónica, Vodafone

Danske Bank (DANBNK) has named Chris Vogelzang as the new CEO as of 1 June 2019. Vogelzang comes from outside Danske Bank and he has held several positions in ABN AMRO, of which the latest being eight years as a member of the bank's management board and a head of its global retail and private banking activities. The interim CEO Jesper Nielsen will return to his earlier position as Head of Banking DK and member of the executive board.

ING
Suvi Platerink Kosonen

Nordic banks/Nordic safe haven, right?

We take a look at the Nordic bank fundamentals and relative value in senior and subordinated debt. The Swedish banks such as Handelsbanken, SEB and Swedbank exhibit solid profitability and robust capital generation capacity. Danske and Nordea lagged the Swedes in 1Q19. Please download the full report.

ING
Suvi Platerink Kosonen

European banks/How deep is your NPS need

We take a look at the European banks bail-in senior issuance plans for 2019 after the lively start to the year. We continue to see value in bail-in senior paper over preferred senior debt and note that several banks are already very well positioned in terms of their full year issuance plans.

MarketLine Department

Swedbank AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Swedbank AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Swedbank AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights ...

MarketLine Department

Svenska Handelsbanken AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Svenska Handelsbanken AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Svenska Handelsbanken AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive a...

MarketLine Department

Bank of Ireland Group Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Bank of Ireland Group Plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Bank of Ireland Group Plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive...

MarketLine Department

Nordea Bank AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Nordea Bank AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Nordea Bank AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highl...

MarketLine Department

Societe Generale S.A. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Societe Generale S.A. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Societe Generale S.A. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advanta...

Expert Corporate Governance Service (ECGS)

Danske, March 18 2019

In general, Danske Bank is in compliance with the Danish regulations relating to organisation and procedures of the Annual General Meeting. 2018 was an annus horribilis for Danske Bank in many aspects. During the period 2007-2015, there were material and critical inadequacies regarding the Company's anti money laundering (AML) procedures in the non-resident's portfolio of its Estonian branch. The "Estonia case" led to the resignation of CEO - Mr. Thomas F. Borgen -, Head of Business Banking - Mr. Lars Morch - and Head of Wealth Management - Mr. Tonny Thierry Andersen - in 2018. In addition, se...

Danske – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Danske Bank AS - 2018, December 7th

In general, Danske Bank is in compliance with the Danish regulations relating to the organisation and procedures of the Extraordinary General Meeting. In light of the money-laundering case at the Company's Estonian branch, which has led to the resignation of several senior executives including Danske Bank's CEO (Mr.Borgen) and Head of Business Banking (Mr. Morch), major shareholder A.P. Moller Holding proposes changes to the board of directors. Under ITEM 1.1, major shareholder A.P. Moller Holding proposes to newly appoint Mr.Dybvad as Member of the board of directors. Based on the available...

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