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Danske Bank Q4 profit beats expectations, launches share buy-back

Danske Bank reported a smaller-than-expected pretax loss on Tuesday on higher income from its insurance business and fee income from increased customer activity and said it expected net profit of more than 14 billion Danish crowns in 2015.

The fourth-quarter pretax loss of 5.3 billion Danish crowns ($807.4 million) was hit by a 9 billion crown writedown announced in December.

Analysts had expected a pretax loss of 5.07 billion crowns.

Denmark's largest bank by market capitalization said it would pay a dividend of 5.5 Danish crowns per share, higher than the 5.33 crowns per share expected by analysts, and would launch a 5 billion crown share buy-back program.