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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Danske Bank A/S    DANSKE   DK0010274414

DANSKE BANK A/S

(DANSKE)
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Danske Bank A/S : to face independent inquiry into debt collection errors

11/27/2020 | 03:54am EST
FILE PHOTO: A view of the Danske bank headquarters in Copenhagen

COPENHAGEN (Reuters) - Denmark's financial watchdog has ordered Danske Bank to undergo an independent investigation into how it collected outdated or excessive debts from thousands of customers.

In August, Danske Bank, Denmark's largest lender, said it wrongly collected debt from up to 106,000 customers due to IT system errors and in September admitted it had known about this for years but not properly addressed the problem.

"Danske Bank has had significant errors in debt recovery, which have not been handled satisfactorily," the Danish Financial Supervisory Authority said.

"This has led to the collection of debt from the bank's customers, which the bank was not entitled," it said in a statement released on Thursday.

The FSA has previously given Danske Bank four orders to halt the erroneous debt collection and take measures to rectify its mistakes. It said the aim of the independent investigation was to identify and assess those measures.

Danske Bank Chief Executive Chris Vogelzang said in a statement that it was "absolutely essential" that the steps it took "to clean up this matter have the desired effect".

"Our clear focus has always been to examine the matter thoroughly, correct the errors and compensate all affected customers," Vogelzang said.

(Reporting by Jacob Gronholt-Pedersen; Editing by Alexander Smith)


© Reuters 2020
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Financials
Sales 2020 42 160 M 6 859 M 6 859 M
Net income 2020 4 321 M 703 M 703 M
Net Debt 2020 - - -
P/E ratio 2020 23,6x
Yield 2020 1,85%
Capitalization 95 581 M 15 609 M 15 549 M
Capi. / Sales 2020 2,27x
Capi. / Sales 2021 2,25x
Nbr of Employees 22 582
Free-Float 78,4%
Chart DANSKE BANK A/S
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Danske Bank A/S Technical Analysis Chart | DANSKE | DK0010274414 | MarketScreener
Technical analysis trends DANSKE BANK A/S
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 112,91 DKK
Last Close Price 112,10 DKK
Spread / Highest target 60,6%
Spread / Average Target 0,72%
Spread / Lowest Target -25,6%
EPS Revisions
Managers and Directors
NameTitle
Chris Vogelzang Chief Executive Officer
Karsten Dybvad Dalsjö Chairman
Frans Woelders Group Chief Operating Officer
Stephan Engels Chief Financial Officer
Fredrik Lindstrom Group Chief Information Officer
Sector and Competitors