COPENHAGEN (Reuters) -Denmark’s biggest lender Danske Bank reported on Thursday third-quarter earnings above market expectations and raised its guidance for the full year.
“Despite the more positive macroeconomic outlook, we remain prudently aware of the downside risks stemming from the geopolitical situation and concerns about a potential slowdown in economic activity,” the bank said in a statement.
Danske said its net profit rose to 6.17 billion Danish crowns ($897.78 million) in the July to September quarter from 5.32 billion a year earlier, topping the 5.55 billion expected by analysts on average in a poll provided by the bank.
The bank raised its net profit guidance for the full year to a range between 22.5 billion and 23.5 billion Danish crowns, up from a previous range of 21 billion to 23 billion crowns.
Swedish banks Handelsbanken, SEB and Swedbank have also posted higher-than-expected earnings for the quarter.
Net interest income, a key metric measuring banks’ income from lending and deposits, fell to 9.17 billion crowns from 9.32 billion, broadly in line with the 9.19 billion expected by analysts.
($1 = 6.8725 Danish crowns)
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
