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BULLETIN: Danske Bank A/S to Scale Down Wholesale Banking; Ratings Unaffected Nov 04
Standard & Poors, Nov 2004
Abstract
STOCKHOLM (Standard & Poor's) Nov. 19, 2004--Standard & Poor's Ratings Services said today that its ratings and outlook on Danske Bank A/S (AA-/Stable/A-1+) are unaffected by the announcement that the bank is to close its U.S. branch and scale down its wholesale banking operations in the U.K. The bank said it intends to focus more on retail banking. While Standard & Poor's views the decision as marginally positive for Danske Bank's risk profile, it does not warrant any rating action. The bank's intention to grow its retail operations outside of Denmark will, in the short term, require both capital and management resources. Group E-Mail Address FIG_Europe@standardandpoors.com...
Companies mentioned in this report are: Danske Bank A/S
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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