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

A double requalification allows DANSKE BANK A/S to improve to Slightly Positive

DANSKE BANK A/S (DK), a company active in the Money Center Banks industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as moderately risky. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was DKK 101.10 and its potential was estimated at DKK 111.03.

2 directors bought

Two Directors at Danske Bank A S bought 6,600 shares at between 90.100DKK and 90.290DKK. The significance rating of the trade was 55/100. 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 rul...

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.

Niklas Kammer

Morningstar | Danske Bank's 1H Results as Expected After Profit Warning; Fair Value Maintained

After its profit warning on 8 July, first-half 2019 results at Danske Bank were no surprise. Net profit fell 21% to DKK 7 billion, corresponding to a 9% return on equity in the first half of the year, although this includes a DKK 1.3 billion gain from the sale of Danica Pension Sweden. According to our calculations, the net profit excluding the sale was about DKK 6 billion, or a return on equity of about 7.7%. We maintain our DKK 200 per share fair value estimate and narrow-moat rating despite this negative development, because we have adjusted our model already following the profit warning. ...

Niklas Kammer

Danske Bank's 1H Results as Expected After Profit Warning; Fair Value Maintained

After its profit warning on 8 July, first-half 2019 results at Danske Bank were no surprise. Net profit fell 21% to DKK 7 billion, corresponding to a 9% return on equity in the first half of the year, although this includes a DKK 1.3 billion gain from the sale of Danica Pension Sweden. According to our calculations, the net profit excluding the sale was about DKK 6 billion, or a return on equity of about 7.7%. We maintain our DKK 200 per share fair value estimate and narrow-moat rating despite t...

Håkon Astrup

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

Danske Bank (DANSKE DC, Buy) - (13 pages)

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 ...

2 directors bought

Two Directors at Danske Bank A S bought 6,600 shares at between 90.100DKK and 90.290DKK. The significance rating of the trade was 55/100. 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 rul...

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

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

A double requalification allows DANSKE BANK A/S to improve to Slightly Positive

DANSKE BANK A/S (DK), a company active in the Money Center Banks industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as moderately risky. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was DKK 101.10 and its potential was estimated at DKK 111.03.

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

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

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

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...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch