Danske Bank, which purchased National Irish Bank three years ago, the largest Nordic lender by assets, said second-quarter profit declined 14 per cent after losses on bad loans increased and falling stock markets resulted in a loss at the Danish bank's insurance operations.
Net income fell to 3.24 billion kroner (€434 million) from 3.78 billion kroner a year earlier, the Copenhagen-based bank said in a statement to the Danish stock exchange today.
That beat the average 2.69 billion-krone estimate of eight analysts surveyed by Bloomberg. Loan losses more than tripled to 572 million kroner.
Bloomberg
