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Danske Bank raises long-term profitability target


COPENHAGEN (Reuters) – Danske Bank on Wednesday raised its long-term profitability target and presented an updated business strategy as it seeks to overcome a money laundering scandal that weighed on earnings in recent years.

Denmark’s largest lender now aims for a return on equity (ROE) by 2026 of 13%, up from a previous goal of between 8.5% to 9%, and a cost-income ratio of around 45%, down from a mid-50s percentage goal earlier.

“Danske Bank has during recent years made fundamental changes to refocus the bank, reduce our risk exposure, develop our organisation and accelerate our commercial momentum,” said CEO Carsten Egeriis.

(Reporting by Nikolaj Skydsgaard, editing by Terje Solsvik)

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