UK Markets closed
  • NIKKEI 225

    28,708.58
    -546.97 (-1.87%)
     
  • HANG SENG

    26,017.53
    -118.49 (-0.45%)
     
  • CRUDE OIL

    82.63
    -0.79 (-0.95%)
     
  • GOLD FUTURES

    1,783.10
    -1.80 (-0.10%)
     
  • DOW

    35,566.56
    -42.78 (-0.12%)
     
  • BTC-GBP

    45,897.49
    -2,544.94 (-5.25%)
     
  • CMC Crypto 200

    1,496.04
    -38.61 (-2.52%)
     
  • ^IXIC

    15,207.43
    +85.75 (+0.57%)
     
  • ^FTAS

    4,102.33
    -16.45 (-0.40%)
     

Sydbank A/S revises upwards its outlook for 2021

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Company Announcement No 18/2021

Peberlyk 4
6200 Aabenraa
Denmark



Tel +45 74 37 37 37
Fax +45 74 37 35 36



Sydbank A/S
CVR No DK 12626509, Aabenraa
sydbank.dk



14 October 2021

Dear Sirs

Sydbank A/S revises upwards its outlook for 2021

Profit after tax is now projected to be in the range of DKK 1,300-1,450m

The outlook is revised upwards to a profit after tax in the range of DKK 1,300-1,450m. In connection with the release of Sydbank’s Interim Report – First Half 2021 on 25 August 2021 we announced that we expected a profit after tax in the range of DKK 1,150-1,350m for 2021.

Q3 2021 was characterised by continued:

  • high customer activity

  • tight cost control

  • favourable developments in customers’ financial circumstances.

As a result of the positive trend in customers’ financial circumstances, a net reversal of impairment charges of DKK 105m was recorded in Q3 2021. Impairment charges for 2021 as a whole are expected to represent a net reversal totalling around DKK 400m. The management estimate related to covid-19 of DKK 325m from 2020 was unchanged at end-Q3 2021.

Sydbank’s Interim Report – Q1-Q3 2021 will be released on 27 October 2021 as planned.

Additional information
Jørn Adam Møller, Deputy Group Chief Executive, tel +45 74 37 20 30
Susanne Ingemann Faber, Press Officer, tel +45 26 29 11 29

Yours sincerely

Karen Frøsig Jørn Adam Møller
CEO Deputy Group Chief Executive

Attachment


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting