DANSKE.CO - Danske Bank A/S

Copenhagen - Copenhagen Real Time Price. Currency in DKK
98.20
-0.40 (-0.41%)
At close: 4:59PM CEST
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Previous Close98.60
Open98.10
Bid98.10 x 0
Ask98.12 x 0
Day's Range97.28 - 98.86
52 Week Range85.90 - 148.70
Volume948,945
Avg. Volume2,494,944
Market Cap83.867B
Beta (3Y Monthly)0.82
PE Ratio (TTM)6.98
EPS (TTM)14.07
Earnings DateNov 1, 2019
Forward Dividend & Yield8.50 (8.62%)
Ex-Dividend Date2019-03-19
1y Target Est183.95
  • Riksbank to Cling to Hiking Plan in Bet Recession Will Be Dodged
    Bloomberg

    Riksbank to Cling to Hiking Plan in Bet Recession Will Be Dodged

    (Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Pocket Cast or iTunes.Swedish central bank policy makers are intent on leaving negative interest rates behind after almost half a decade.But faced with a barrage of bad economic data, Governor Stefan Ingves and his colleagues will on Thursday likely delay a plan to tighten at the turn of the year further into 2020.They’re betting the largest Nordic economy will avoid an outright recession as the Federal Reserve and the European Central Bank are once again adding stimulus.While the case for exiting negative rates this year is growing weaker, policy makers have consistently downplayed signs of a deepening slowdown amid high resource utilization.Ingves, while visiting London last week, said he didn’t see a recession “in the cards.” After being battered over the past month, Sweden’s krona has also recently surged, in part on optimism over Brexit solution, but also as traders reassessed bets on the Riksbank’s rate path after strong inflation data.Buffeted by a trade war between the world’s economic powers, Swedish growth stalled in the first half of the year, confidence gauges have plunged and unemployment has rapidly worsened. Inflation has also subsided, but has nonetheless kept within the bank’s forecasts, giving it scope to keep a so-called tightening bias with a view that price growth will pick up again over the next years.“The decision hangs in the balance, with the economy deteriorating more than anticipated by the Riksbank, but with some of the worst risks easing and an Executive Board being in normalization mode,” said Johan Lof, senior economist at Svenska Handelsbanken AB.The risk is that Ingves and his colleagues are underestimating the slowdown and will eventually need to reverse their stance and cut rates again. Under intense criticism over the weakening krona, they have been slowly withdrawing stimulus, ending an quantitative easing program in 2017 and then raising rates for the first time in seven years in December last year.The bank will announce its next rate decision on Thursday at 9:30 a.m. All 21 economists surveyed by Bloomberg anticipate an unchanged rate at minus 0.25%.What Bloomberg’s Economists Say"Why risk making a policy mistake like in 2008 or 2010 when the Riksbank raised rates only to cut them soon thereafter? I don’t see a case for lifting rates already this year given the bleak global outlook and moderating inflation expectations." \- Johanna Jeansson, Nordic economist, read preview hereWhat Economists Say:\--With assistance from Harumi Ichikura.To contact the reporter on this story: Rafaela Lindeberg in Stockholm at rlindeberg@bloomberg.netTo contact the editors responsible for this story: Jonas Bergman at jbergman@bloomberg.net, Stephen TreloarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    More investors join U.S. lawsuit against Danske Bank

    A group of 64 institutional investors has joined an existing U.S. lawsuit against Danske Bank over a $200 billion money laundering scandal, the law firms behind the action said in a statement on Monday. Danske Bank is under investigation in several countries including the United States over 200 billion euros ($220 billion) in payments made through its small branch in Estonia between 2007 and 2015, many of which the bank has said were suspicious. U.S. law firms Grant & Eisenhofer and DRRT, now representing 232 pension funds and other investors, said claims against the bank for economic losses resulting from the alleged money laundering now total nearly $800 million.

  • Exclusive: Deutsche Bank took years to flag suspect Danske money flows - source
    Reuters

    Exclusive: Deutsche Bank took years to flag suspect Danske money flows - source

    FRANKFURT/TALLINN (Reuters) - Deutsche Bank did not disclose more than one million suspect money transfers with Danske Bank until February, a person with direct knowledge of the matter said, about five years after a whistleblower flagged suspicious transactions at Danske. Deutsche sent alerts about the suspect money flows involving the Danish bank to Germany's money laundering data authority and state prosecutors, the person said, prompting investigators to seek more information from Deutsche. Prosecutors are now investigating whether staff or management at Deutsche sanctioned the transactions, and whether they subsequently tried to cover them up, the person said, speaking on condition of anonymity.

  • GlobeNewswire

    Danske Bank structured notes linked to S&P 500

    Company announcement     Holmens Kanal 2-12 DK-1092 København K Tel. +45 45 14 14 00 09 October 2019 Danske Bank structured notes linked to S&P 500 On 10 October 2019,.

  • GlobeNewswire

    Danske Bank credit-linked structured notes

    Company announcement     Holmens Kanal 2-12 DK-1092 København K Tel. +45 45 14 14 00 2 October 2019 Danske Bank credit-linked structured notes On 6 December 2017, Danske Bank.

  • World Economy Sends Up Flares as Manufacturing Slump Hits U.S.
    Bloomberg

    World Economy Sends Up Flares as Manufacturing Slump Hits U.S.

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The global economy flashed clearer warning signs on Tuesday as a wave of data showed manufacturing stuck in a slump, exports falling and sentiment sliding.In the U.S., a closely watched factory index unexpectedly dropped to the lowest since 2009 -- driving down stocks as well as yields on Treasuries. Meanwhile the specter of deflation resurfaced as South Korea, a bellwether for international trade, reported a drop in consumer prices and the Reserve Bank of Australia cut its interest rate to a record low.With a trade war between the U.S. and China still raging, industry executives from Germany to Japan and Russia complained of contracting business, and the World Trade Organization cut its forecast for commerce to the lowest in a decade.Although a measure of Chinese manufacturing improved and consumer spending globally has largely held strong, the overall tone sounded of the world economy failing to rebound amid mounting trade tensions and rising Brexit risks.That leaves the U.S. and China and also the U.K. and European Union under pressure to resolve their differences, with central bankers and governments also having to find ways to support demand.“There can be few precedents since the 1930s of global growth prospects being affected so significantly by trade policy disruptions,” Fitch Ratings Ltd. Chief Economist Brian Coulton said.UBS Group AG economists reckon global growth is tracking just 2.3% at the moment, almost a percentage point less than at the start of the third quarter. Those at Danske Bank are warning there is a 30% chance of a global recession in the next two years. A global manufacturing gauge improved slightly in September, but employment fell for a fifth month.While trade tensions are part of the story, there are also industry-specific issues -- autos in Germany, semiconductors in South Korea -- adding to the hurdles.German car-parts giant Continental AG last month laid out a sweeping restructuring plan that could affect as many as 20,000 jobs worldwide. Japan’s Kawasaki Heavy Industries cut its forecasts, citing sales to chipmakers.Central banks around the world are fighting the slowdown with new interest-rate cuts and monetary stimulus. But they are also ramping up calls on governments to jump in with fiscal measures, saying they can’t do all the heavy lifting.In the meantime, global bond investors are betting against a meaningful inflation pickup. Even with sovereign yields below zero, they are still piling into government debt, and so-called deflation trades are on the rise.Read More...Deflation Trades Reveal Investors’ Fading Faith in Central BanksLowe Says Monetary Policy Is Working as RBA Joins Race to BottomU.S. Payrolls Set the Tone for Next Fed Countdown: Economy WeekThe latest purchasing managers indexes may reinforce those views. German manufacturers cut prices in September by the most in more than three years. In Japan, where manufacturing sentiment is declining, factories lowered selling prices for a fourth straight month. British companies warned of “Brexit uncertainty and clients routing supply chains away from the U.K.”Such an environment is worrying for central bankers in a world where inflation is already low and well short of targets. Consumer-price growth in the euro area slipped below 1% in September for the first time since 2016, falling further from the European Central Bank’s goal.Parts of the global economy still show resilience, and services are still growing. U.S.-China trade negotiations remain critical for the outlook, with a Chinese delegation set to visit Washington for talks this month aimed at hammering out a deal.The decline in U.S. manufacturing is an “amber light on the dashboard,” John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, said on Bloomberg Television. “The Fed is very likely to cut again at the end of October as a result of this and so long as the trade-war situation remains as an overhang.”(Updates with markets in second paragraph.)To contact the reporters on this story: Fergal O'Brien in Zurich at fobrien@bloomberg.net;Michelle Jamrisko in Singapore at mjamrisko@bloomberg.netTo contact the editors responsible for this story: Craig Stirling at cstirling1@bloomberg.net, Scott LanmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Danske Bank closes down its banking activities in Estonia
    Reuters

    Danske Bank closes down its banking activities in Estonia

    Danske Bank said its Estonian business had entered into liquidation on Tuesday after the country's financial regulator in February ordered it to close its branch at the center of one of the largest ever money laundering scandals. "Danske Bank has now essentially closed all banking activities in Estonia in accordance with the plan agreed with the Estonian FSA," said Executive Vice President and chairman of the Liquidation Committee, Frederik Bjoern, in a statement. All Danske Bank logos and signs will be removed from the head office building in Tallinn in the coming days, it said.

  • ECB’s Lautenschlaeger Resigns From Executive Board in Shock Move
    Bloomberg

    ECB’s Lautenschlaeger Resigns From Executive Board in Shock Move

    (Bloomberg) -- European Central Bank board member Sabine Lautenschlaeger unexpectedly resigned more than two years before her term ends, a shock move in the wake of unprecedented dissent over President Mario Draghi’s latest stimulus drive.While the ECB gave no reason for her departure, Lautenschlaeger had been one of the strongest opponents of the Governing Council’s decision this month to resume bond purchases along with an interest-rate cut to revive euro-area growth and inflation. She’ll step down from the six-person board on Oct. 31, also Draghi’s last day in office before he’s replaced by Christine Lagarde.She’s the latest German policy maker in the ECB’s two-decade history to quit early, echoing the frustrations of the savings-oriented nation with loose policies. Then-Chief Economist Juergen Stark resigned from the board in December 2011 over his opposition to stimulus measures, and the resignation of Axel Weber the same year from the Governing Council, giving up his post at the head of the Bundesbank, thrust Draghi into the ECB presidency. Until then Weber had been the frontrunner to succeed Jean-Claude Trichet.Joerg Asmussen served only two years on the ECB’s board -- until January 2014 -- before leaving to join the German government. Weber’s predecessor as Bundesbank chief -- Ernst Welteke -- also quit early.Lautenschaleger’s decision to leave comes as the ECB prepares for the arrival of Lagarde, who has signaled that she’ll continue Draghi’s stimulative policies. Another policy maker likely to take that view is Fabio Panetta, a Bank of Italy official who on Wednesday was named as the sole candidate to fill another board post that becomes available on Jan. 1.“Just wow!” said Piet Christiansen, senior economist at Danske Bank in Copenhagen. “Can’t see that this is not connected to the September stimulus package.”Lautenschlaeger said last month that a new round of quantitative easing was unnecessary and should only be used as a last resort. While about a third of the 25 member Governing Council took a similar view, including governors from nations including France, the Netherlands and Austria, the ECB decided on Sept. 12 to launch the program.The 55-year-old has been a board member since January 2014 and during her tenure served a full five-year term as the vice-chair of the Supervisory Board of the Single Supervisory Mechanism. She currently is the only woman in the Governing Council, which consists of the heads of the 19 euro-area central banks and the Executive Board.In its statement, the ECB said Draghi “thanked her for her instrumental role in helping set up and steer Europe-wide banking supervision, a key pillar of banking union, as well as her unwavering commitment to Europe.”\--With assistance from Fergal O'Brien and Craig Stirling.To contact the reporter on this story: Piotr Skolimowski in Frankfurt at pskolimowski@bloomberg.netTo contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Zoe SchneeweissFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Former Danske Estonia boss found dead amid money laundering inquiry
    Reuters

    Former Danske Estonia boss found dead amid money laundering inquiry

    A former head of Danske Bank's Estonian branch, which is at the centre of inquiries into the world's largest money laundering scandal, was found dead on Wednesday. Police in Estonia discovered the body of Aivar Rehe, who ran the Danish bank's Estonian business between 2007 and 2015 and had been among those questioned as a witness in a probe by Estonian prosecutors, following a search which began on Monday. Danske Bank, Denmark's largest lender, is under investigation in several countries, including the United States, Denmark, Britain and Estonia, over suspicious payments totalling 200 billion euros ($220 billion) which were moved through its tiny Estonian branch during the period Rehe was in charge.

  • Reuters

    UPDATE 3-Former Danske Estonia boss found dead amid money laundering inquiry

    A former head of Danske Bank's Estonian branch, which is at the centre of inquiries into the world's largest money laundering scandal, was found dead on Wednesday. Police in Estonia discovered the body of Aivar Rehe, who ran the Danish bank's Estonian business between 2007 and 2015 and had been among those questioned as a witness in a probe by Estonian prosecutors, following a search which began on Monday. Danske Bank, Denmark's largest lender, is under investigation in several countries, including the United States, Denmark, Britain and Estonia, over suspicious payments totalling 200 billion euros ($220 billion) which were moved through its tiny Estonian branch during the period Rehe was in charge.

  • Reuters

    Facebook's Libra falls into "big gap" in EU rules -regulator

    Facebook's proposed Libra cryptocurrency falls into a "big gap" in European Union financial regulation at a time when the bloc's ability to tackle money laundering is already stretched, a top EU regulator said on Thursday. Jose Manuel Campa, chair of the European Banking Authority (EBA) said it was necessary to "keep an eye" on cryptoassets like Libra. The watchdog had issued investor warnings before Libra was even mooted that cryptoassets could be channels for money laundering activities, he said.

  • Danske Bank poaches Commerzbank finance chief in post-scandal shake-up
    Reuters

    Danske Bank poaches Commerzbank finance chief in post-scandal shake-up

    Danske Bank named Stephan Engels from Commerzbank as its finance chief on Thursday, in an ongoing overhaul by the Danish lender's new boss to restore trust after its involvement in a damaging money laundering scandal. Together with shipping firm AP Moller-Maersk and brewer Carlsberg, Danske is part of a powerful axis in Danish business life and has traditionally been led by either Danish or Scandinavian executives. For Commerzbank, the unexpected departure of Engels, its long-time chief financial officer, comes as the German bank is in the middle of a review of its strategy following this year's failed merger talks with Deutsche Bank.

  • Danske Bank hires finance chief from Commerzbank in shake-up
    Reuters

    Danske Bank hires finance chief from Commerzbank in shake-up

    Danske Bank named Stephan Engels from Commerzbank as its finance chief on Thursday, the latest step by the Danish lender's new boss to restore trust after its involvement in a damaging money laundering scandal. For Commerzbank, the unexpected departure of Engels, its long-time chief financial officer, comes as the German bank is in the middle of a review of its strategy following this year's failed merger talks with Deutsche Bank . Commerzbank, Germany's second-largest bank behind Deutsche, is looking at possible staff cuts and closing some branches, sources have told Reuters.

  • Danske Bank reported to police for overcharging customers: regulator
    Reuters

    Danske Bank reported to police for overcharging customers: regulator

    Denmark's financial watchdog said on Friday it had reported Danske Bank to the police for overcharging customers, the latest blow to the lender as it tries to restore trust after involvement in a major money laundering scandal. The FSA said in June it was investigating the bank for failing to inform customers that it expected a poor performance from its Flexinvest Fri investment product and for continuing to sell it to new customers after raising fees associated with it in 2017. "This is a very serious breach of the consumer protection rules (which) can also weaken confidence in the financial system," the FSA said in a statement.