Danske Bank A/S Nov 08
- ID: 2024294
- November 2008
- Standard & Poors
Strong leader in most segments of the Danish market Significant retail-banking franchise in Sweden, Norway, Ireland, and Finland Conservative risk management, advance risk-control systems, and sound overall asset quality Solid underlying profitability Sharp slowdown in domestic and Irish housing market and economy is impairing asset quality Very low margins in the domestic market hinder profitability Rapid expansion through acquisitions in foreign markets (Ireland, Finland) requires substantial investment and management attention Modest capitalization The ratings on Denmark-based Danske Bank A/S reflect its commanding position in the Danish market, conservative risk management, currently good asset quality, and solid underlying profitability. They are supported by growing retail-banking franchises in Sweden, Finland, and Norway. The ratings are constrained by rapidly deteriorating asset quality in...
Companies mentioned in this report are:
- Danske Bank A/S
- Danske Bank PLC
- Danica Pension Livsforsikringsaktieselskab
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Research Type: Full Analysis