Estonia, Financial Services, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 20:24

Danske Bank saw turnover and net profit fall in Estonia

BC, Tallin, 24.07.2014.Print version
The net profit of Danske Bank Estonia fell to 20.8 mln euros in the first half of this year from 28.6 million euros at the same time last year, informs LETA reffering to Postimees Online.

The bank's total income fell from 33.3 mln euros in the first half of 2013 to 28 million in the first half of 2014.


Aivar Rehe, CEO of Danske Bank, comments on the financial results for the first half of 2014 as follows: "At the end of June 2014, Danske Bank’s customer deposits exceeded loans by EUR 718 million, which enables the bank to continue its active and well - considered lending activities. In the first half of the year, profit before loan impairment charges as a percentage of allocated capital was 40.5%, which is a high indicator in banking today. Profit before tax amounted to EUR 20.8 million (EUR 28.6 million a year ago)."


Rehe said that Danske Bank’s liquidity remained high, as did its surplus of deposits to loans. On 30 June 2014, deposits exceeded loans by EUR 718 million (EUR 730 million).


Danske Bank continued to have the best loan/deposit ratio of any large bank operating in Estonia. At the end of June, the ratio was 61.8% (60.7%), he said.


The total volume of the bank’s loan portfolio increased to EUR 1.16 billion on 30 June (EUR 1.13 billion). This represents an increase of around EUR 33.6 million, or 3.0%, compared with the level in the preceding year. Deposits remained high, increasing EUR 21.7 million, or 1.2%, year-on-year, to EUR 1.88 billion (EUR 1.86 billion).






Search site