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Danske Bank second quarter pre-tax profit hit by costs, low interest rates

Danske Bank second quarter pre-tax profit hit by costs, low interest rates
FILE PHOTO: Danske Bank flag flutters at the bank's Estonian branch in Tallinn, Estonia August 3, 2018. REUTERS/Ints Kalnins -
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Ints Kalnins(Reuters)
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(Reuters) – Danske Bank’s <DANSKE.CO> second-quarter pretax profit came in below expectations on Thursday hit by low interest rates and higher costs associated with compliance in the aftermath of a money-laundering scandal at its Estonian branch.

Second-quarter pre-tax profits fell to 4.76 billion Danish crowns (576.05 million pounds) from 5.49 billions the previous year, missing a mean forecast of 5.06 billion by analysts according to Refinitiv data.

Its reported net profit of 4.0 billion Danish crowns was in line with Danske’s preliminary second-quarter estimates from early July.

(Reporting by Nikolaj Skydsgaard. Editing by Jane Merriman)

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