Danske Bank targets lower capital ratio
Danish lender bought 6.8 million of its own shares for DKK 1.6 billion
Danske Bank’s new share buyback programme cost 120 basis points of its common equity Tier 1 (CET1) capital ratio in the first quarter.
The Danish lender bought 6.8 million of its own shares for DKK 1.6 billion ($0.26 billion), out of a maximum 85 million shares approved for purchase by the board of directors in 2017.
The buying spree contributed to a reduction in the bank’s core capital ratio from 17.6% at the end of 2017 to 16.4% as of March 31. The bank’s total capital ratio declined from
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