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

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.

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.

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: 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.

Danske Bank A/S: Danske Bank's acquisition of SEB Pension Denmark is credit positive

FINANCIAL INSTITUTIONS ISSUER COMMENT 18 December 2017 What is  Moody’s Credit Outlook ? Published every Monday and Thursday morning, Moody's Credit Outlook informs our research clients of the credit implications of current events. Contacts Louise Lundberg +46.8.5025.6568 VP-Sr Credit Officer [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Ja

Niklas Kammer

Morningstar | New Danske Company Report

We believe Danske is a stable and conservatively run bank that follows a sound expansion strategy in the Nordics. However, uncertainties about fines related to the EUR 200 billion of potentially fraudulent transactions that flowed through its Estonian branch from 2007 to 2015 put significant pressure on its share price. We think that the market largely overacts as there is little information to go on, which is typically not well liked among investors. We expect fines by European regulators to come in at about DKK 3 billion, which Danske can absorb with excess capital of about DKK 15 billion on...

Niklas Kammer

All Aboard the Money Laundering Train; New Reports Implicate More European Banks

Over the past days a consortium of investigative newspapers, online portals, and television programs revealed a web of money laundering activities flowing through the European banking system, which lay bare a different scale and urgency of the problem of anti-money laundering controls within most banks as well as regulators than previously acknowledged. Of the banks named thus far to be involved we cover Danske, Nordea, Swedbank, Raiffeisen, Erste, RBS (acquired the unit in question from ABN in ...

Niklas Kammer

Morningstar | Danske Closes Turbulent 2018, but We Do Not See a Deteriorating Business

Danske reported DKK 14.7 billion in net profit for full-year 2018, which came as no surprise after its recently revised outlook. The largest factors impacting the bottom line this year have been donations related to the Estonia case as well as weaker equity markets negatively impacting trading markets. More importantly, however, we do not see a structural decline in Danske’s business. We plan to update updated our model for 2018 financials but do not anticipate a material change to our fair value estimate of DKK 210 per share and narrow moat rating. The loss of about 11,000 core Danish retail...

Niklas Kammer

Danske Closes Turbulent 2018, but We Do Not See a Deteriorating Business

Danske reported DKK 14.7 billion in net profit for full-year 2018, which came as no surprise after its recently revised outlook. The largest factors impacting the bottom line this year have been donations related to the Estonia case as well as weaker equity markets negatively impacting trading markets. More importantly, however, we do not see a structural decline in Danske’s business. We plan to update updated our model for 2018 financials but do not anticipate a material change to our fair valu...

Niklas Kammer

Morningstar | Anchoring Bias and Lack of Information Drive Danske's Price, but Core Business Remains Solid

After two years of strong returns on equity, 11.7% and 12% according to our calculations, the money laundering scandal in Estonia has caught up with Danske. We believe Danske is a stable and conservatively run bank that follows a sound expansion strategy in the Nordics. However, uncertainties about fines related to the EUR 200 billion of potentially fraudulent transactions that flowed through its Estonian branch from 2007 to 2015 put significant pressure on its share price. We think that the market largely overacts as there is little information to go on, which is typically not well liked amon...

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 ...
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

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.

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

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.

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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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