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A fall in interest rates flogs billion of the banks ' profit

Low interest rates and the fall in the stock market ate a quarter of the total profits of the 18 biggest Danish banks.

Anyway downloaded the Danish banks 31 billion in profits in 2018. It shows a statement from the banks ' trade Finance Denmark.

It is ten billion dollars lower than the year before.

- One of hovedforklaringerne behind the banks ' falling profits is the turbulent developments on the stock markets in 2018, especially towards the end of the year, says chief economist in the Finance Denmark Niels Arne Dam.

- This has led to a sharp decline in the banks ' trade revenues in comparison with 2017, when the banks benefited from the upturn in the stock markets.

on Top of it made the banks write-down for overall, a billion dollars in 2018. It is fairly low, but it is higher than 2017, when the banks had plus on the account.

the Banking sector was in 2018 marked by news about Danske Bank's case on money laundering through the knock Estonian branch. The reaction thereof can also be read in the accounts, considers the chief competition economist.

- It belongs also to the combating of money laundering and increased compliance has increased banks ' costs, says Niels Arne Dam.

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