Danske's WM division slapped with regulations and rising costs following acquisition

A substantial one-off expense played a role in giving Danske Bank Wealth Management's profits a rough shave of 16 percent in Q1 this year.

Danske Bank Wealth Management, which encompasses the bank's asset management, private banking and pension activities, booked a post-tax profit reduction of 16 percent, landing at DKK 736m (EUR 110.5m).

A one-off expense of DKK 140m related to new regulation made a particularly significant impact on the result, writes Danske in the Q1 interim report.

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