February 2, 2018 / 6:39 AM / 10 months ago

BRIEF-Danske Bank Q4 Pretax Profit Beats Forecast

Feb 2 (Reuters) - Danske Bank:

* 2017 NET PROFIT ‍20.9​ BILLION DKK VERSUS 20.29 BILLION SEEN IN REUTERS POLL

* SAYS ‍ON BASIS OF OUR STRONG CAPITAL POSITION, BOARD OF DIRECTORS IS PROPOSING A DIVIDEND FOR 2017 OF DKK 10 PER SHARE, OR 45% OF NET PROFIT​

* SAYS ‍DANSKE BANK’S DIVIDEND POLICY HAS BEEN REVISED, AND GOING FORWARD, PAY-OUT RATIO WILL BE 40-60% OF NET PROFITS RATHER THAN 40-50%​

* 2017 NET INTEREST INCOME ‍23.4​ BILLION DKK VERSUS 23.34 BILLION SEEN IN REUTERS POLL

* SAYS ‍IN ADDITION, BOARD OF DIRECTORS HAS DECIDED TO INITIATE A NEW SHARE BUY-BACK PROGRAMME OF DKK 10 BILLION IN 2018​

* SAYS ‍WE EXPECT NET PROFIT FOR 2018 TO BE IN RANGE OF DKK 18-20 BILLION​

* SAYS ‍WE HAVE MET OUR LONGER-TERM AMBITION FOR A RETURN ON SHAREHOLDERS’ EQUITY OF AT LEAST 12.5%​

* SAYS ‍OUR NEW LONGER-TERM AMBITION IS TO RANK IN TOP THREE AMONG MAJOR NORDIC PEERS IN TERMS OF RETURN ON SHAREHOLDERS’ EQUITY​

* 2017 LOAN IMPAIRMENT CHARGES NET REVERSAL ‍873​ MILLION DKK VERSUS 586 MILLION SEEN IN REUTERS POLL

* SAYS ‍THIS RELATIVE TARGET ACCOMMODATES CHANGING ENVIRONMENT AND WILL BE VALID THROUGHOUT ECONOMIC CYCLE​

* SAYS ‍IN 2023, DANSKE BANK’S DOMICILE WILL RELOCATE FROM HOLMENS KANAL IN COPENHAGEN TO NEW OFFICES CONSTRUCTED FOR DANSKE BANK NEXT TO COPENHAGEN CENTRAL STATION​

* CEO SAYS ‍WE EXPERIENCED A POSITIVE DEVELOPMENT ACROSS OUR BUSINESS UNITS, WHICH IN MANY AREAS LED TO GOOD INCREASES IN NUMBER OF CUSTOMERS AND LENDING​

* CEO SAYS ‍WE CONTINUOUSLY STRIVE TO IMPROVE CUSTOMER EXPERIENCE AND WE HAVE GENERALLY MAINTAINED POSITIVE TREND IN CUSTOMER SATISFACTION ACROSS OUR MARKETS​

* CEO SAYS ‍DIGITALISATION INCREASINGLY CREATES NEW POSSIBILITIES, AND RESULT FOR 2017 GIVES US A GOOD BASIS FOR CONTINUING TO INVEST IN DEVELOPMENT OF NEW SOLUTIONS FOR BENEFIT OF OUR CUSTOMERS​

* Q4 PRETAX PROFIT 6.729​ BILLION DKK VERSUS 6.45 BILLION SEEN IN REUTERS POLL

* SAYS ‍CAPITAL POSITION IS VERY STRONG, WITH A TOTAL CAPITAL RATIO OF 22.6% AND A CET1 CAPITAL RATIO OF 17.6% AT 31 DECEMBER 2017​

* SAYS ‍BOTH CAPITAL RATIOS ARE ABOVE OUR TARGETS​ Source text for Eikon: Further company coverage: (Reporting by Stine Jacobsen)

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