DBRS: Danske Bank unchanged

DBRS said the 2Q11 results of Danske Bank AS does not affect its A (high) senior debt and deposits rating and its R-1 (middle) short-term debt and deposits rating.

The trend is stable.

The ratings consider DBRS's designation of Danske as a critically important banking organization in Denmark, the agency said. Danske's ratings are based on DBRS's floor ratings for CIBs in Denmark.

Danske Bank's results evidenced continued solid performance in banking activities, reduced overall credit costs, good access to liquidity and solid capital generation, the agency said.

The improved results were driven by higher net interest income on margin expansion, a modest decline in reported impairments and lower expenses that reflected a smaller charge, relative to 1Q11, the agency added.

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