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Home BUSINESSDanske Bank’s profit slides
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Fri, 22 Jul, 2016 12:05:27 AM
FTimes – STT Report, Jul 22
 
Danske Bank headquarter in Helsinki. File Photo – Lehtikuva.
The pre-tax operational profit of the Danske Bank, Finland was only 130.8 million euros this year, whereas last year it was 135.9 million euros.
 
The bank authorities in a report said the start of the year had difficult market conditions, negative interests and slower growth.
 
“Our loan portfolio continued positive development especially in private loans. Net interest income kept decreasing, despite the growth of loan balance, because deposit interest rates paid to customers adjusted to the low interest rates slowly,” said Danske Bank Managing Director Risto Tornivaara in the report.
 
The bank forecasts that Finland’s economic growth will be slow during the rest of the year and the interest rates will stay low. 
 
Lending to private and entrepreneurial customers is expected to grow and the net profit is expected to improve from last year.
 
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