Danske Bank A/S cut its profit outlook and lowered its target for how much it will return to investors as Chief Executive Officer Thomas Borgen delivers his first set of results since the board of Denmark’s biggest bank fired his predecessor last month.
Danske Bank A/S’s new Chief Executive Officer Thomas Borgen criticized what he called unsatisfactory investor returns over the past half-decade and vowed to improve the bank’s performance by winning back customers.
Denmark’s banks won’t face an extra 6 billion kroner ($1.1 billion) in taxes targeted by the opposition because most lawmakers would block such a proposal, Danske Bank A/S Chief Executive Officer Peter Straarup said.
Danske Bank A/S Chief Executive Officer Peter Straarup said Denmark’s biggest lender faces an inhospitable earnings climate for years to come as Europe’s toughest resolution laws and a lack of demand hurt its markets.
The fallout of Denmark’s house price collapse is spreading through Danske Bank A/S’s loan book as the country’s biggest lender watches losses grow at its retail unit, said outgoing Chief Executive Officer Peter Straarup.