VP Securities Services announced record growth in 2005, generating the highest profits the Danish company has ever recorded.
Before taxes, VP recorded profits of DKK112.8m, up from DKK84.5m in 2004. Danske Bank officials credit the record turnover on the securities market, the satisfactory growth in sales of financial information and modernization of VP system for the gains.
During 2005, we have continuously modernized our systems and they are rated amongst the most secure, efficient and flexible systems according to international analysis, said Johannes Luef, VP’s president and CEO,
Luef emphasized that VP has experienced intensified internationalization, and he said the cross-border activities have increased significantly. Foreign markets and products are playing a greater role as deregulation and harmonization are experiencing increased focus in recent years. Luef also welcomed a strengthened Nordic collaboration.