Danske Bank settles €1.8bn ($2bn) fine with US and Danish authorities, posts a net profit of DKK 21.3bn ($2.94bn), and resumes share buybacks.

Danske Bank, Denmark's largest lender, reported an 80% increase in pre-tax profits for 2023, reaching £186 million. The bank attributes the growth to strong lending, higher interest rates, and increased transactional activity. Additionally, the bank plans to buy back shares for the first time since 2018, purchasing 5.5 billion kroner's worth (€735 million) of its own stock this year. Danske Bank's 2024 net income is expected to remain unchanged, forecasting a range of 20-22 billion kroner (€2.7 – €2.9 billion).

February 02, 2024
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