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Danske close to putting pension arm up for sale-paper
COPENHAGEN Aug 8 (Reuters) - Denmark's biggest financial institution, Danske Bank, is close to putting its pension arm Danica up for sale, a move which could generate 20 billion crowns ($3.34 billion), business daily Borsen said on Wednesday.
The bank's Chief Executive Eivind Kolding, who took the helm in February, has promised a new strategy later this year to draw a line under the fallout from the 2008 financial crisis and cut costs to help revive the bank's earnings.
"Although there are clear synergies in Danica and Danske Bank being part of the same group, we are looking at a potential sale of Danica," Kolding told Borsen.
"But we have not come to a conclusion yet," Kolding said.
On Tuesday, Danske Bank beat second-quarter profit forecasts, helped by smaller loan writedowns at its Irish unit.
The bank said it would continue to see high impairments and low earnings this year, but was on the right track. ($1 = 5.9937 Danish crowns) (Reporting by Copenhagen Newsroom; Editing by Helen Massy-Beresford)
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