Copenhagen, Jan 7: Danish banks are going forward on their way out of financial crisis, while the signs of recovery continue to grow among the most robust in Europe, show latest data from the European Central Bank (ECB).
Economists confirmed that after years of enduring the financial crisis, there are more positive light in the Danish financial sector, Xinhua reported.
Loan write-down percentages are falling, efficiency is rising and the level of solvency makes Danish banks some of the best positioned in Europe, according to data collected by the ECB.
Jesper Rangvid, a professor of finance at the Copenhagen Business School, said Danish banks are now better suited to cope with the financial and economic turmoil than they were in the past.
“Danish banks are in a better place to handle any financial relapse than they were when the crisis hit, and they are more able to withstand any shocks than banks in other countries,” Rangvid told Danish newspaper Berlingske.
The most promising sign of health in the Danish financial sector is the solvency of the banks — their rising ability to pay back creditors that have lent them money. Danish banks now have one of Europe’s highest solvency levels, say experts.