Danske Bank profit rises more than expected on high activity, low losses

Danske Bank Profit Exceeds Estimates in Q3 Amid High Customer Activity

Danske Bank Reports Strong Third-Quarter Performance

Third-Quarter Net Profit Surpasses Expectations

COPENHAGEN, Oct 29 (Reuters) - Danske Bank on Thursday reported a third-quarter net profit above estimates, citing solid customer activity and strong credit quality, and narrowed its full-year profit outlook to the upper end of its previously given range.

Credit Quality and Loan Impairment

• "Credit quality remained robust in the third quarter, with low loan impairment charges below normalised levels," the bank said in a statement

Net Profit and Analyst Expectations

• Net profit for July-September rose to 6.39 billion Danish crowns ($954.46 million) from 5.52 billion a year earlier, beating the 5.94 billion expected on average by 16 analysts in a poll provided by the bank

Full-Year Profit Outlook

• The bank now expects a full-year profit of between 24 billion and 25 billion crowns up from a previous range of 23 billion to 25 billion crowns

Net Interest Income

• Net interest income for the period rose slightly to 9.61 billion crowns from 9.07 billion a year earlier, in line with analysts' average forecast of 9.68 billion

Economic Environment and Outlook

Nordic Economies Remain Resilient

• The Nordic economies stayed resilient in the third quarter, and the outlook for economic activity is generally positive despite higher and fluctuating energy prices, the bank said

Currency Exchange Rate

($1 = 6.6949 Danish crowns)

Reporting and Editing

(Reporting by Louise Rasmussen, editing by Terje Solsvik)