July 18, 2019 / 6:16 AM / a month ago

Danske Bank Q2 pre-tax profit hit by costs, low interest rates

July 18 (Reuters) - Danske Bank’s second-quarter pretax profit came in below expectations on Thursday hit by low interest rates and higher costs associated with compliance in the aftermath of a money-laundering scandal at its Estonian branch.

Second-quarter pre-tax profits fell to 4.76 billion Danish crowns ($716.6 million) from 5.49 billions the previous year, missing a mean forecast of 5.06 billion by analysts according to Refinitiv data.

Its reported net profit of 4.0 billion Danish crowns was in line with Danske’s preliminary second-quarter estimates from early July. ($1 = 6.6426 Danish crowns) (Reporting by Nikolaj Skydsgaard. Editing by Jane Merriman)

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