Corporate defaults push Danske Bank’s NPLs up 16%
Danske Bank’s stock of bad loans swelled +16% in 2019, as big borrowers in the oil industry reneged on their debts.
Gross non-performing loan (NPL) exposures increased by DKK 4.8 billion ($706 million) to DKK 34.7 billion over the year. Of these, loans in default jumped +10% to DKK 17.6 billion and those not in default by +23% to DKK 17.1 billion.
NPLs climbed the most at the corporate and institutional division in 2019, by +75% to DKK 5.1 billion. They accounted for 34% of total toxic loans
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