Publication Date:
Tue, 2011-11-01 14:58
The Danish bank said it aims to reduce its expenditure by around 10 percent, or 2 billion kroner ($377 million) in 2012-2014.
A large number of the reductions could be made without redundancies, if attrition and retirement remain at the usual levels, the bank said.
Danske Bank Chairman Peter Straarup said the bank’s results “are under pressure because of the financial crisis, new regulation and high funding costs,” and that the cost cuts are needed to improve earnings.
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