November 2, 2017 / 6:50 AM / in a year

Danske Bank lifts guidance as Q3 pretax profit falls less than expected

COPENHAGEN, Nov 2 (Reuters) - Danske Bank raised its full-year guidance and beat forecasts for its third-quarter pretax profit, aided by “positive macroeconomic developments, high customer activity and increasing business volumes”.

Pretax profit came in at 6.24 billion Danish crowns ($978 million), ahead of a figure of 5.93 billion crowns expected by analysts polled by Reuters.

The result was down slightly from 6.27 billion a year ago, mainly because trading income in the year-ago quarter was boosted by high market activity after Britain’s decision to leave the EU and ahead of the U.S. presidential election.

The bank lifted its forecast for full-year net profit to between 19 billion and 21 billion crowns, up from earlier guidance of 18 billion to 20 billion.

$1 = 6.3832 Danish crowns Reporting by Teis Jensen; Editing by Richard Pullin

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