Danske Bank A/S (OTCPK:DNKEY)

$ 14.71 0.1 (0.68%) Market Cap: 25.08 Bil Enterprise Value: 133.84 Bil PE Ratio: 7.98 PB Ratio: 0.99 GF Score: 65/100

Danske Bank A/S to Discuss the Changes to the Organization and the Executive Leadership Team Call Transcript

Aug 25, 2020 / 11:00AM GMT

Release Date Price: $8.03 (+1.26%)

Transcript

Chris F. H. H. Vogelzang;S;CEO;Member of the Executive Leadership team

Danske Bank A

/-&

Thank you, operator. Indeed, I'm here, Chris Vogelzang, CEO of the bank. And I'm here with Stephan Engels, Chief Financial Officer; and Claus Ingar, Head of Investor Relations. What we propose to do today is run quickly through a few slides to give you the headlines of the announcements we made today and then open the floor up for questions if there are anything -- any.

So if you go to the slide, which is called, why are we changing our organization, essentially, we're saying is that we've made a lot of progress to become a better bank last year -- over the last year. We've embarked on a very large simplification program and acceleration program in our IT development and in our product development, which will come to fruition before the end of the year with about 4,000 to 5,000 people, including a cost reduction there. We have made steps on sustainability. We are making steps on costs, et cetera, et cetera. So a lot of things are happening. But the next step

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