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Friday, 26.04.2024, 12:23
Danske Bank's Estonian unit sees slight fall in Jan-Sep profit
BC, Tallinn, 28.10.2016.
Print version
Print versionEstonian unit of Danske Bank earned 7.8 mln euros of profit in the first nine months of 2016, which marks a drop of 2.5 % against the same period last year, reports LETA/BNS.
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Commenting on the results, head of Danske Bank Estonia Ivar Pae
said that the net profit decreased because of a smaller decline than last year
in loan loss provisions. Profit before provisions showed a y-o-y increase of 24%,
he observed.
Operating income amounted to 15.9 mln euros, representing a
modest increase from the previous year. The volume of loans grew 10% to 910 mln
euros whereas the volume of deposits fell 17% to 754 mln euros.
The potential loan loss stood at 11.4 mln euros at the end
of the period under review, the bank said.
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