Denmark: Net banks lack income
Article Abstract:
While traditional banks in Denmark are making record high earnings, net banks still report losses. Especially SkandiaBanken and Basisbank have been very successful as to getting new customers. But this has made costs increase more than the income. All three banks are still expecting to report a profit by 2002. In the first half Basisbank posted a loss before tax of DKr 24.6m. SkandiaBanken posted losses of DKr 11.4, while SEB only had a loss of DKr 8.5m. SEB seem to have reached its turning point and expects to report a profit by 2002.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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DENMARK: MIDTBANK INVOLVED IN INSIDER SCANDAL
Article Abstract:
Midtbank, based in Herning, is in the centre of an insider deal scandal that is being revealed in Denmark. According to Borsen, the Danish daily, one of the close co-operation partners of Ib Schmidt Hansen, the MD at Midtbank, purchased 3,000 shares in Midtbank only a few days prior to Svenska Handelsbanken's surprising bid for Midtbank. The profit from this trade amounted to DKr1.5mn (US$174,400). The Danish Finance Inspection Board is examining the matter.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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