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Company announcement no. 19
Net profit of DKK 686 million and return on equity of 13.4%
We’re very satisfied with our half-year profit of DKK 686 million and a return on equity of 13.4%, which also means the Bank’s equity exceeds DKK 10 billion for the first time in Spar Nord’s history.
In terms of income, the first six months of the year were characterised by strong performance in our core business based on a high level of activity and business volume growth combined with a very strong performance in the financial markets.
Our bottom-line performance was even more positive than our core earnings because, at the end of the period, we recorded loan impairment reversals that reconfirm the favourable developments in the credit quality of our retail and business customers despite continuing uncertainty attaching to COVID-19.
Finally, in June we were pleased to successfully migrate the roughly 60,000 customers from BankNordik’s Danish business to our products and systems”, said Spar Nord’s CEO Lasse Nyby.
Please direct any questions regarding this release to Lasse Nyby, Chief Executive Officer, on tel. +45 9634 4011, or Rune Brandt Børglum, Head of Investor Relations, on tel. + 45 9634 4236.
Rune Børglum Sørensen
Head of Investor Relations