COPENHAGEN (Reuters) -Denmark's biggest lender Danske Bank reported second-quarter net profit broadly in line with expectations on Friday, driven by good customer activity and strong credit quality.
Danske Bank Reports Q2 Profit in Line with Market Expectations
COPENHAGEN (Reuters) -Denmark's biggest lender Danske Bank reported second-quarter net profit broadly in line with expectations on Friday, driven by good customer activity and strong credit quality.
Danske said its net profit fell to 5.45 billion Danish crowns ($848.26 million) in the second quarter from 5.84 billion a year earlier, broadly in line with the 5.50 billion expected by 11 analysts on average in a LSEG poll of analysts.
"Despite the challenges posed by geopolitical turbulence and market volatility, the macroeconomic environment in our operating markets remains robust. The Nordic economies continue to exhibit resilience," the bank said in a statement.
Nordic banks have seen central bank rate cuts across the region weigh on interest over the past year while uncertainty over U.S. tariffs and any European retaliation has clouded the outlook for lenders and the economies they serve.
The bank still expects net profit for the year of between 21 billion and 23 billion crowns, it said.
Net interest income, a metric for measuring banks' income from lending and deposits, came in at 9.06 billion crowns, topping a mean forecast of 8.98 billion.
(Reporting by Louise Breusch Rasmussen, editing by Stine Jacobsen)
