Danske Bank A/S Dec 10
- ID: 2024273
- December 2010
- Standard & Poors
Market leader in Denmark and strong franchise in Sweden, Norway, and Finland. Well diversified business and revenue streams. Widely-diversified funding base and strong liquidity. Diversification into riskier systems (Ireland, Northern Ireland, and to a lesser extent the Baltic states) has brought about significant asset-quality problems. Some continuing challenges, including in the small and midsize enterprise segment of the domestic market, combined with low margins. Weak capitalization. The ratings on Denmark-based Danske Bank A/S reflect its commanding position in Denmark and strong franchise in three of the other Nordic markets, its income diversification, well-diversified funding profile, and strong liquidity. The ratings are constrained by asset-quality problems in the domestic, Irish, and Northern Irish portfolios, as well as by the group's weak...
Companies mentioned in this report are:
- Danske Bank A/S
- Danica Pension Livsforsikringsaktieselskab
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