SYDB Sydbank A/S

Statement re Sydbank A/S to revise its expectations upwards as regards profit for 2022

Statement re Sydbank A/S to revise its expectations upwards as regards profit for 2022

        





















Company Announcement No 63/2022



Peberlyk 4

6200 Aabenraa, Denmark







Tel

Fax







Sydbank A/S

CVR No DK 12626509, Aabenraa

sydbank.dk







22 December 2022 

Dear Sirs

Sydbank A/S to revise its expectations upwards as regards profit for 2022

Profit after tax now expected to be in the range of DKK 1,850-1,950m

Expectations are revised upwards to a profit after tax in the range of DKK 1,850-1,950m. In Company Announcement 58 on 22 November 2022 we announced that we expected a profit after tax in the range of DKK 1,700-1,850m for 2022.

Developments in Q4 2022 have been characterised by:

  • a substantial increase in core income as a result of rising interest rates and continued high activity
  • a highly satisfactory trading income, due in part to developments in financial markets
  • continued tight cost control
  • positive investment portfolio earnings

Impairment charges for loans and advances etc are projected to represent a modest net reversal in Q4 2022.

The outlook for 2022 is subject to uncertainty and depends on financial market developments and macroeconomic factors.

Sydbank’s 2022 Annual Report will be released on 1 March 2023 as planned.

Yours sincerely



Karen Frøsig        Jørn Adam Møller

CEO        Deputy Group Chief Executive

Additional information

Jørn Adam Møller, Deputy Group Chief Executive, tel Susanne Ingemann Faber, Press Manager, tel

Attachment



EN
22/12/2022

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SYDBSydbank A/S

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