Danske Bank Cuts FY Net Profit Outlook to DKK 10-12 Billion from DKK 13-15 Billion Previously

• (PLX AI) - Danske Bank now sees Outlook FY net income DKK 10,000-12,000 million, down from DKK 13,000-15,000 million previously.
• • Cites challenging financial market conditions despite a positive development for core banking activities
• • Says first half of the year driven by volume growth, solid customer activity and a continued solid credit quality
• • But sees adverse impact from the rapidly rising interest rates and significantly lower expectations for trading income and income from insurance business
• • Q2 net profit DKK 1.7 billion vs. estimate DKK 3.2 billion
• • Q2 total income DKK 8.7 billion vs. estimate DKK 10.42 billion