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Rising loan defaults by farmers hit Danish banks

Many book provisions as Russian ban on European food imports impacts exports

Denmark's No 3 bank Jyske said loan impairment charges for the agricultural sector almost doubled to 273 million Danish crowns in the first nine months of the year.


DANISH banks' rebounding profits could prove short-lived as tumbling agricultural prices and Russia's ban on European food imports threaten to spark more defaults among farmers who have borrowed billions of crowns.

The country's top lenders reported better-than-expected...

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