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Jyske Bank Q2 profit misses forecast, loan impairments rise
August 19, 2014 / 6:26 AM / 3 years ago

Jyske Bank Q2 profit misses forecast, loan impairments rise

COPENHAGEN, Aug 19 (Reuters) - Jyske Bank, Denmark’s second-biggest bank by market capitalisation, almost quadrupled pretax profit in the second quarter, aided by a reassessment of assets and liabilities in the wake of the acquisition of mortgage lender BRFkredit.

But pretax profit was still below analysts’ expectations. It rose to 2.39 billion Danish crowns ($428 million), up from 641 million a year earlier but below a forecast of 2.58 billion million in a Reuters poll.

Loan impairments rose to 705 million crowns from 385 million crowns a year ago and well above an average forecast of 430 million crowns in the poll.

The bank did not give a financial guidance for the full-year.

1 US dollar = 5.5826 Danish crown Reporting by Teis Jensen; editing by Sabina Zawadzki

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