July 18, 2018 / 6:19 AM / a month ago

Danske Bank posts Q2 pre-tax profit below expectations

COPENHAGEN, July 18 (Reuters) - Danske Bank on Wednesday posted a fall in second-quarter pre-tax profit which missed forecasts and said net profit for the year would be at the lower end of its forecast range.

Denmark’s biggest lender reported a pre-tax profit of 5.49 billion Danish crowns ($856.5 million) for the three months to June 30, down from 6.18 billion a year earlier. Analysts had forecast a profit of 6.02 billion.

The bank said it still expects net profit for the year of between 18 and 20 billion crowns, but that it would likely be at the lower end of that range due to weaker trading income.

$1 = 6.4098 Danish crowns Reporting by Jacob Gronholt-Pedersen and Stine Jacobsen; editing by Jason Neely

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