Danske Bank the one to monitor?

[verbatim]

Danske Bank Sees Losses at Its Irish Business, TV2 News Says

By Tasneem Brogger
Aug. 20 (Bloomberg) – Danske Bank A/S expects to book
losses on its Irish activities over the next 12 to 18 months,
TV2 News said, citing Danske Bank Chief Financial Officer Tonny
T. Andersen.
The National Irish Bank, which Danske Bank owns, has lent
6.5 billion kroner ($1.29 billion) to property developers in
Ireland and some of these loans may be difficult to retrieve
given the decline in the property market, TV2 News said.

It might be harder for the Central Bank to lean on NIB to go easy on developers since they are foreign owned.

[Green_Bear]

Danske Bank expects bad loan losses to mount in its National Irish Bank unit over the next year-and-a-half as developers continue to grapple with the property slump.
The comments from Danske’s chief financial officer Tonny Andersen to a Danish daily newspaper have brought the deteriorating quality of Irish property loans back into focus.
It compounded the woes of Irish banking stocks, where prices declined yesterday by between 1.4pc, in the case of Bank of Ireland, and 4.7pc, at Anglo Irish Bank.

NIB prepared for mounting bad loan losses on property slump
By Joe Brennan, Thursday August 21 2008
independent.ie/business/iris … 60150.html

[dipole]

That’s petty cash.

[Proximo]

That’s petty cash.

They’ll still want it back

It’ll be interesting times for NIB over the next year. Circumstances in Copenhagen will determine their attitude to Irish developers, and how to handle them. A lot of pressure I’d say - if developers are into them for serious money.

If the dominos are to fall then these guys may push the first one.