Latest news with #Danske
Yahoo
3 days ago
- Business
- Yahoo
U.S. tariffs have been implemented at a faster pace than expected
- Sweeping U.S. tariffs have been implemented at a faster rate than previously expected, potentially pushing up prices and weighing on the broader economy, according to analysts at Danske Bank (CSE:DANSKE). In a note to clients, the brokerage downgraded its forecast for growth in the world's largest economy to 1.6% from 2.3% this year -- although an outright recession is not anticipated to occur. In 2026, the U.S. is now tipped to expand by 1.3%, down from a prior estimate of 1.9%. The majority of negative impact from the tariffs is estimated to arrive in the third and fourth quarters of 2025, with growth gradually recovering from the first quarter of next year onwards. U.S. President Donald Trump has slapped punishing levies on a host of countries, as he looks to address perceived trade imbalances, reshore lost manufacturing jobs, and bolster government revenues. Although many of Trump's elevated so-called "reciprocal" tariffs have been temporarily delayed while White House officials attempt to forge bespoke trade deals with dozens of individual nations, a baseline 10% tariff and levies on items like steel and aluminum remain in effect. Meanwhile, even after a recent agreement to lower and pause tit-for-tat tariffs on China, the U.S. effective tariff rate now stands at around 15% -- the highest level since the Second World War. Echoing long-held speculation among many economists that Trump's aggressive tariff agenda will fuel inflationary pressures and dent economic activity, the Danske analysts flagged prices will be boosted in the second half of 2025. "In our base scenario, the tariffs will remain close to the current levels in the foreseeable future," the Danske analysts said. However, lower oil prices are anticipated to help moderate this uptick, with Banske now projecting 2025 inflation in the U.S. of 2.8%, compared to previous outlook of 3.0%. Core inflation, stripping out volatile items like food and fuel, is seen at 3.0% in 2025, matching Dankske's earlier predictions. Related articles U.S. tariffs have been implemented at a faster pace than expected - Danske Bank Canadian labor market beats expectations in May with surprise job gain Trump unlikely to drive down drug prices substantially: Capital Economics Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
RTÉ News
02-05-2025
- Business
- RTÉ News
Danske Bank posts profit beat and expects moderate tariff impact in Nordic market
Denmark's biggest lender Danske Bank has reported forecast-beating first-quarter profits and said it expects the global trade war to have a moderate impact on its main Nordic markets, booting its shares. US President Donald Trump's tariffs have sown turmoil in financial markets and raised fears of a recession, prompting major banks to say they will affect industries from manufacturing to retail to banking. The Nordic region has so far been resilient, with strong economic data across the region and Danske Bank said its first-quarter results reflected this. "In the first quarter of 2025, we saw an increasingly promising outlook for growth and inflation and robust employment across the Nordic countries," it said in a statement. "While a potential risk of recession is highlighted in the US, a more moderate impact is expected on European growth, including in the Nordic countries," it said. Danske's net profit for the January to March period rose 2% to 5.76 billion Danish crowns ($873m) from a year earlier, compared with the 5.31 billion predicted by 13 analysts in a poll provided by the bank. Shares in Danske Bank have risen 30% since early April. The bank said it still expects net profit for the year of between 21 billion and 23 billion crowns, slightly lower than in 2024, primarily due to lower net interest income from lower market rates. The region's biggest lender Nordea last month also reported forecast-beating profits. Danske Bank said it took an impairment charge of 50 million crowns in the first three months of the year, compared with the 195 million expected by analysts. Net interest income, a metric for measuring banks' income from lending and deposits, fell 1% to 9.02 billion in the first quarter but was above the 8.86 billion forecast by analysts. Net fee income rose 8% to 3.66 billion, compared with the 3.57 billion predicted by analysts. "We delivered solid results in line with our expectations, driven by a steady development in core income and a stable cost level," CEO Carsten Egeriis said in a statement.
Yahoo
02-05-2025
- Business
- Yahoo
Danske Bank posts profits beat and expects moderate tariff impact in Nordic market
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Denmark's biggest lender Danske Bank kept its 2025 profit outlook unchanged as it reported forecast-beating first-quarter profits on Friday and said it expects the global trade war to have a moderate impact on its main Nordic markets. U.S. President Donald Trump's tariffs have sown turmoil in financial markets and raised fears of a recession, prompting major banks to say they will affect industries from manufacturing to retail to banking. The Nordic region has so far been resilient, with strong economic data across the region and Danske Bank said its first-quarter results reflected this. "In the first quarter of 2025, we saw an increasingly promising outlook for growth and inflation and robust employment across the Nordic countries," it said in a statement. "While a potential risk of recession is highlighted in the U.S., a more moderate impact is expected on European growth, including in the Nordic countries," it said. Danske's net profit for the January to March period rose 2% to 5.76 billion Danish crowns ($873 million) from a year earlier, compared with the 5.31 billion predicted by 13 analysts in a poll provided by the bank. The bank still expects net profit for the year of between 21 billion and 23 billion crowns, slightly lower than in 2024, primarily due to lower net interest income from lower market rates. The region's biggest lender Nordea last month also reported forecast-beating profits. Danske Bank said it took an impairment charge of 50 million crowns in the first three months of the year, compared with the 195 million expected by analysts. Net interest income, a metric for measuring banks' income from lending and deposits, fell 1% to 9.02 billion in the first quarter but was above the 8.86 billion forecast by analysts. Net fee income rose 8% to 3.66 billion, compared with the 3.57 billion predicted by analysts. "We delivered solid results in line with our expectations, driven by a steady development in core income and a stable cost level," CEO Carsten Egeriis said in a statement. "In addition, credit quality remained strong, and this resulted in low loan impairments," he said.
Bloomberg
02-05-2025
- Business
- Bloomberg
Danske Bank Confirms 2025 Guidance as NII Beats Forecasts
Danske Bank A/S, the largest lender in Denmark, confirmed its full-year guidance following a solid first quarter, driven by better-than-expected net interest income and strong credit quality. The Copenhagen-based bank reported net interest income — or the difference Danske earns from lending and pays for deposits — of 9.02 billion kroner ($1.4 billion), compared with an average analyst estimate of 8.9 billion kroner.
Yahoo
02-05-2025
- Business
- Yahoo
Danske Bank's Q1 net profit beats forecasts, maintains outlook
COPENHAGEN (Reuters) -Denmark's biggest lender Danske Bank reported first-quarter net profit above expectations on Friday and kept its full-year profit outlook unchanged. "We delivered solid results in line with our expectations, driven by a steady development in core income and a stable cost level," CEO Carsten Egeriis said in a statement. "In addition, credit quality remained strong, and this resulted in low loan impairments," he said. Danske's net profit for the January to March period rose 2% to 5.76 billion Danish crowns ($873 million) from a year earlier, compared with the 5.31 billion predicted by 13 analysts in a poll provided by the bank. The bank still expects net profit for the year of between 21 billion and 23 billion crowns, slightly lower than in 2024, primarily due to lower net interest income from lower market rates. Sign in to access your portfolio
