Danske Bank narrows down full-year profit outlook, announces new goals

Danske Bank narrows down full-year profit outlook, announces new goals
FILE PHOTO: General view of the Danske Bank building in Copenhagen, Denmark, September 27, 2018. REUTERS/Jacob Gronholt-Pedersen/File Photo -
Jacob Gronholt-Pedersen(Reuters)
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COPENHAGEN (Reuters) – Denmark’s biggest lender Danske Bank <DANSKE.CO> reported slightly better than expected third quarter net profit on Friday and announced new goals towards 2023 including getting costs and compliance under control, but narrowed down its annual profit outlook.

Danske, which is trying to restore trust in the bank after being involved in one of the world’s biggest money laundering scandals via its branch in Estonia, said net profits for the third quarter came in at 3.01 billion Danish crowns ($450 million). That was above an average of 2.95 billion forecast by analysts in a Refinitiv poll.

It now expects annual net profit at the lower end of the range between 13 billion and 15 billion crowns.

(Reporting by Nikolaj Skydsgaard; Editing by Susan Fenton)

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