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Danske beats Q3 profit estimates but cuts ROE target -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Danske logo is visible on the headquarters of a Danish bank in Copenhagen (Denmark), October 22, 2019. REUTERS/Jacob Gronholt Pedersen

COPENHAGEN (Reuters – Danske Bank lowered its profitability target for 2023 on Friday after reporting higher-than-expected third quarter earnings. This was aided by high levels of client activity.

Danske, due to significant problems in its business over the last 2 years, expects to report an increase in return on equity (RoE), of 8.5% to 9.9% by 2023. That’s down from the previous range of 9 to 10%.

Danish lender Danesco reported net profit in excess of the 3.0 billion expected by company polls.

($1=6.3719 Danish crowns)

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