SPNO Spar Nord Bank AS

Spar Nord downgrades guidance for 2018 net profit due to loss on custom-er exposure

Spar Nord downgrades guidance for 2018 net profit due to loss on custom-er exposure

Spar Nord has been affected by an unforeseen loss on one of the Bank’s business customers due to fraud, which has caused the company to go bankrupt, leading to an expected loss to the Bank of about DKK 45 million.

As a result, the Bank now expects a profit after tax of about DKK 920 million, against previously around the DKK 1.1 billion mark.

Core income before impairments are expected to be realised at around DKK 1,265 million, which is within the previously announced guidance of about DKK 1.3 billion.

Spar Nord’s financial statements will be published as planned on 7 February.

Please direct any questions or comments regarding this announcement to Ole Madsen, Senior Vice President, Communication & Business Development, on tel. .

Ole Madsen

Senior Vice President, Communication & Innovation

Attachment

EN
29/01/2019

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