Danske Bank, the largest financial institution in Denmark, has announced a significant financial performance for the fourth quarter, exceeding market forecasts.
The bank reported a net profit of 6.3 billion Danish crowns, outpacing analysts’ average expectation of 5.75 billion. Alongside these strong results, Danske Bank has unveiled a new share buyback program totaling 4.5 billion Danish crowns, equivalent to approximately $710.27 million.
Chief Financial Officer Cecile Hillary emphasized the bank’s solid standing, citing robust asset and liability management, as well as strong capital and liquidity positions. The bank projects a net profit between 22 billion and 24 billion Danish crowns for the current year.
(With inputs from agencies.)