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COPENHAGEN May 1 Danske Bank reported first-quarter pretax profit above forecast on Thursday and raised its full-year profit guidance thanks to cost cuts and lower writedowns on loans.
Denmark's largest lender said that pretax profit rose 64 percent to 3.63 billion Danish crowns ($674.3 million), beating a forecast of 3.5 billion crowns.
The group now expects 2014 net profit to be at the higher end of a previously communicated range of 9-12 billion crowns. ($1 = 5.3831 Danish Crowns) (Reporting by Ole Mikkelsen; Editing by David Goodman)