Akhir 27, 1432 / April 1, 2011, SPA -- Danske Bank, which owns National Irish Bank, is unlikely to acquire more Irish banking assets but aims to become a significant player for international corporates in Ireland, it said on Friday, according to Reuters. The head of Danske's international banking activities, Thomas Borgen, told Reuters Danske would seek organic growth in Ireland as the country's banking sector restructures. "We will not be making any major moves in Ireland," Borgen said. "The sector is facing a major restructuring." "We will target our focus on international corporates in Ireland, and on online services for private customers, primarily high-end customers," Borgen said. "We would like over the years to become a significant players in Ireland for international corporates," he said. Ireland published a stress test of its banks on Thursday, showing that an additional 24 billion euros ($33.97 billion) was needed to recapitalise four domestic Irish banks. It also put forward a plan for consolidating the domestic banks into two groups, which are expected to focus on core banking and over time shed non-core assets. Danske's National Irish Bank was not part of the stress tests as the Danish Financial Supervisory Authority has oversight of it as part of the Danske group. "I have learned never to rule out anything, but it is very very unlikely that we will acquire more assets in Ireland. We have a good platform, and will focus on organic growth," Borgen said. Shares in Danske Bank traded up 1.9 percent at 1131 GMT, outperforming the Copenhagen bourse's bluechip index which slipped 0.1 percent. Although acquiring Irish banking assets could be a long-term advantage for Danske, it would not be rewarded in the current environment, Jyske Bank analyst Christian Hede said. The result of Thursday's Irish banking stress test would not affect the operations of National Irish Bank nor the value of that bank, Borgen said. "The world has not changed for us in the last 24 hours." Hede said the result of the stress test would make little difference to Danske. The outcome could contribute to more stability, which would benefit the sector and therefore Danske Bank's operations, he said.
