Danske Bank targets lower capital ratio

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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