Danske Bank in €1.2bn writedown

Denmark’s biggest bank will write down 9 billion kroner (€1.2bn) in goodwill, marking its latest accounting adjustment after talks with the country’s regulator. Danske Bank will book the impairment in its 2014 annual report, it said in a statement.

Shareholders’ equity will be cut by the same amount and the writedown won’t affect its 2014 forecasts for profit, the bank said.

Danske is also maintaining its long-term target for a return on equity of “more than” 12%, Henrik Ramlau-Hansen, chief financial officer, said by phone.