Danske Bank raises forecast after strong Q3

Danske Bank’s third-quarter post-tax profit was 6.2 billion DKK. CEO Carsten Egeriis credits stable core business income, cost control, increased customer activity, and strong credit quality for a 14% profit increase over the first nine months compared to last year. The forecast for the 2024 annual result has been raised to 22.5-23.5 billion DKK, up from the previous 21-23 billion DKK range. Net interest income has held steady despite decreased deposit and lending rates. While fee income dropped, lower operating costs and a customer shift towards investment products have raised net fee income. Additionally, better client financials allowed for a significant reduction in loan impairments by 337 million DKK.