Arab Today, arab today jyske bank sees brighter year after profit slump
Last Updated : GMT 22:52:01
Arab Today, arab today
Arab Today, arab today

Jyske Bank sees brighter year after profit slump

Arab Today, arab today

Arab Today, arab today Jyske Bank sees brighter year after profit slump

Copenhagen - Arabstoday

Danish lender Jyske Bank said results could be significantly better this year, helped by recent acquisitions, after profit slumped 40 per cent in 2011. Denmark’s second-biggest bank said pretax profit fell to 601 million crowns ($107.25 million), hit by provisions of $40 million for a lawsuit and 299 million crowns for Greek government bonds. “Despite the fact that there is still concern about the Greek debt crisis, the foundation for considerably better results in 2012 compared to 2011 is in place,” Chief Executive Anders Dam said. Jyske Bank, which bought part of failed Fjordbank Mors last year, said 2012 pretax profit from activities acquired in 2011 would be 75 million crowns and was expected to rise to about 125 million in 2014. An agreement with Danish mortgage lender BRFkredit regarding covered bond funding of the bank’s home loans would increase income by 25-50 million crowns in 2012, with a growth potential in the range of 75-125 million per year. “After a challenging and turbulent 2011 the start of the new year has shown the highest earnings since the financial crisis began in autumn 2008,” Dam said. “Although 2012 is expected to show still high loan impairment charges and provisions for guarantees and costs ... the underlying trend in the bank is taking a strong course.” Loan impairment charges for the year fell to 1.48 billion crowns from 1.80 billion in 2010 while fourth-quarter loan impairments rose to 485 million crowns from 279 million in the year-earlier quarter. Denmark’s financial sector, fragmented into over 100 banks, has taken heavy writedowns after excessive lending to property buyers and has also been hit by rising funding costs. Two weeks ago, the country’s biggest bank Danske Bank warned that 2012 earnings would remain low and loan writedowns high after fourth-quarter pretax profits dropped 57 per cent, below forecasts, hit by a spike in loan impairments. Jyske Bank said that growth in the number of customers had exceeded 10 per cent and the bank had gained market share during 2011. The bank said on Jan.26 it had made a provision against lawsuits brought by investors who had lost money in one of its hedge funds during the credit crisis.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jyske bank sees brighter year after profit slump Arab Today, arab today jyske bank sees brighter year after profit slump

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Wadih al-Azzazi calls for activating news coverage

GMT 19:29 2017 Thursday ,30 March

Wadih al-Azzazi calls for activating news coverage

GMT 19:23 2017 Thursday ,30 March

China's Central Bank Cuts Liquidity in Markets

GMT 19:21 2017 Thursday ,30 March

China's Central Bank Cuts Liquidity in Markets

GMT 10:25 2017 Thursday ,30 March

CBB organises workshop

GMT 05:12 2017 Thursday ,30 March

BSF signs deal with Saudi desalination giant

GMT 20:00 2017 Wednesday ,29 March

US dollar exchange rate stable in morning trading
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday