Danske Bank Posts Q4 Net Loss, Raises Dividend

Denmark's

posted a net loss in the fourth quarter and lifted its dividend for the full year. The bank posted a quarterly net loss of 6.29 billion Danish kroner ($956.7 million), versus a year-ago net profit of 1.92 billion kronor. However, analysts were estimating a net loss of 6 billion kroner. For 2014, Danske Bank posted a net profit of DKK 3.8 billion, while net profit, before goodwill impairments, climbed 82% to DKK 12.9 billion, versus DKK 7.1 billion in 2013. Its net interest income rose to 5.88 billion kroner, versus 5.68 billion kroner. The bank's board proposed a dividend of 5.5 a share, versus year-ago dividend of 2 kroner a share. Danske Bank also announced its plans to launch a 5 billion kronor share buy-back program in 2015. For 2015, the bank projects a net profit of above DKK 14 billion. “2014 was a year of considerable progress for Danske Bank. Our focus on delivering value to our customers helped strengthen our underlying business and our results,” says Thomas F. Borgen, Chief Executive Officer. Danske Bank shares gained 2.01% to close at $13.21 yesterday.