Businessweek

Danske Bank A/S announced consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, net interest income was DKK 8,297 million against DKK 8,821 million for the same period a year ago. Profit before tax was DKK 2,216 million against DKK 1,575 million for the same period a year ago. Net profit for the period portion attributable to shareholders of Danske Bank A/S was DKK 1,472 million against DKK 778 million for the same period a year ago. Diluted earnings per share were DKK 1.5 against DKK 0.8 for the same period a year ago. Cash flow used in operations was DKK 11,400 million against cash flows from operations of DKK 39,725 million for the same period a year ago. Acquisition of intangible assets was DKK 59 million against DKK 77 million for the same period a year ago. Return on avg. shareholders' equity 4.3% against 2.5% for the same period a year ago. Return on avg. tangible equity was 5.1% against 3.0% for the same period a year ago. Book value per share was DKK 135 against DKK 137 for the same period a year ago. The company expected to raise income levels throughout 2013. The company expected net profit in the range of DKK 7.5 billion - DKK 10 billion. Although the year got off to a slow start in the first quarter with low interest rates and lower lending and trading activity, the initiated and planned management actions are expected to reduce the impact. The company's tax rate for 2013 is expected to be somewhat above the Danish corporate tax rate of 25%. Core impairments are expected to fall slightly below the level in 2012. The loss at the Non-core business unit is expected to be reduced significantly as impairments fall to a lower level. The company expects NII to be flat for 2013 on 2012. In the first quarter of 2013, core impairments were down 50% year on year. The decline came mainly from significantly lower impairments at Personal Banking and Business Banking. At 31 March 2013, impairments amounted to DKK 1.5 billion or 0.29% p.a. of lending and guarantees, against 0.58% p.a. a year earlier. Impairments at the non-core business unit amounted to DKK 0.6 billion, or 6.6% p.a. of lending and guarantees, against 10.4% p.a. a year earlier.

Danske Bank A/S, Q1 2013 Earnings Call, May 02, 2013

Danske Bank A/S (CPSE:DANSKE) is looking to divest noncore activities from its Irish loan portfolio and set a strict sale deadline for 2014, FinansWatch reported April 22, 2013 citing The Sunday Business Post. Danske Bank’s portfolio of Irish nonperforming loans amounts to DKK 29.4 billion, the report added. Danske Bank Chief Executive Officer Eivind Kolding reportedly said interested buyers include hedge funds and other asset funds and that he is sure that the buyer will not be a bank, FinansWatch wrote.

Alent plc announced that Lars Forberg, Non-executive Director has been appointed as a Director on the board of Danske Bank with effect from March 18, 2013.

Danske Bank carried out a management reshuffle in its corporate finance division on March 25, 2013 in an effort to restore its position as the preferred bank for companies. Jesper H. Jensen, the new head of the corporate finance division, who will succeed Anders Bønding who was fired along with three other executives.