Rising loan defaults by farmers hit Danish banks
Many book provisions as Russian ban on European food imports impacts exports
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Copenhagen
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 earnings for the third quarter, with its largest bank Danske almost doubling profits and promising higher dividends amid overall lower loan losses and cost cuts.
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