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As of 4:30 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

danske bank a/s (DNSKF) Key Developments

Danske Bank A/S Presents at Goldman Sachs 10th Annual Yankee FIG Conference, Dec-11-2014

Danske Bank A/S Presents at Goldman Sachs 10th Annual Yankee FIG Conference, Dec-11-2014 . Venue: The Conrad New York, 102 North End Avenue, New York, NY 10282, United States. Speakers: Claus Ingar Jensen, Head of Investor Relations, Peter Holm, Senior Vice President.

RenoNorden Mulls Listing

RenoNorden AS is considering an application for a listing on the Oslo Stock Exchange. The intial public offering (IPO) would comprise a public offering to institutional and retail investors in Norway, and a private placement to certain institutional investors internationally. Further announcements relating to a potential IPO will be made as appropriate. Danske Bank A/S (CPSE:DANSKE) has been appointed as sole global coordinator. Carnegie, Danske Bank and DNB Markets have been retained as joint bookrunners.

Bank of Ireland Interested In Acquisition Of Loans From Danske Bank

The Governor and Company of the Bank of Ireland (ISE:BIR) is circling the loans of more than 4,000 small and medium-sized businesses being auctioned by Danske Bank A/S (CPSE:DANSKE). Bank of Ireland is one of a small number of bidders for the SME portfolio to have made the second round of bidding. The remaining bidders on the shortlist are international private equity firms. KPMG has been retained to manage the sales process, and the portfolio has been codenamed Project Griffin.

Danske Bank Reports Impairment Charges for the Third Quarter of 2014; Expects to Record Impairment Charges for the Full Year of 2014; Provides Dividend Guidance for the Year 2015

Danske Bank reported impairment charges for the third quarter of 2014. For the quarter, the company reported loan impairment charges of DKK 668 million, in line with expectations of DKK 671 million and well below the DKK 959 million in the same quarter last year. For the full year, the company expected to record an impairment charge of about DKK 1 billion on its non-core Irish activities. The company announced that it is aiming to pay out 40% of net profit in dividends in 2015 after its earnings almost doubled in the third quarter due to flat costs, lower bad loan charges and a rise in fee income.

Danske Bank A/S Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Year 2014

Danske Bank A/S announced consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter, the company reported interest income of DKK 15,990 million compared to DKK 17,872 million a year ago. Net interest income was DKK 8,827 million compared to DKK 8,479 million a year ago. Profit before tax was DKK 4,503 million compared to DKK 2,304 million a year ago. Net profit for the period was DKK 3,272 million compared to DKK 1,536 million a year ago. Diluted earnings per share were DKK 3.2 compared to DKK 1.5 a year ago. Return on average shareholders equity was 8.5% compared to 4.3% a year ago. Return on average tangible equity was 9.9% compared to 5.0% a year ago. For the nine months, the company reported interest income of DKK 49,355 million compared to DKK 54,082 million a year ago. Net interest income was DKK 25,218 million compared to DKK 25,191 million a year ago. Profit before tax was DKK 13,133 million compared to DKK 7,197 million a year ago. Net profit for the period was DKK 10,131 million compared to DKK 5,192 million a year ago. Diluted earnings per share were DKK 10.0 compared to DKK 5.2 a year ago. Cash outflow from operations was DKK 7,625 million compared to DKK 68,935 million a year ago. Acquisition of intangible assets was DKK 313 million compared to DKK 204 million a year ago. Net interest income was adversely affected by persistently low interest rates and adjustment of the funds transfer pricing model. Return on average shareholders equity was 8.9% compared to 4.9% a year ago. Return on average tangible equity was 10.4% compared to 5.8% a year ago. Book value per share was DKK 153.1 compared to DKK 143.3 million a year ago. The company expects total income above 2013 level. The company expects net profit to be in the range of DKK 11.5 billion to DKK 13.5 billion, an increase from the previous guidance of a range of DKK 10 billion to DKK 13 billion.

 

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DNB ASA 111.30 NOK -0.70
KBC Groep NV €46.21 EUR +0.91
Skandinaviska Enskilda Banken AB kr97.45 SEK 0.00
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Swedbank AB kr192.50 SEK +0.80
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DNSKF

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Valuation DNSKF Industry Range
Price/Earnings 13.7x
Price/Sales 3.8x
Price/Book 1.0x
Price/Cash Flow 13.6x
TEV/Sales NM Not Meaningful
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