SYDB Sydbank A/S

Sydbank’s Interim Report – Q1-Q3 2022

Sydbank’s Interim Report – Q1-Q3 2022



Company Announcement No 54/2022

2 November 2022

Sydbank’s Interim Report – Q1-Q3 2022

Significantly higher net interest income

Q1-Q3 2022 – highlights

  • Profit for the period of DKK 1,187m equals a return on equity of 12.5% p.a. after tax
  • Core income of DKK 3,690m is 13% higher compared to the same period in 2021
  • Trading income constituted DKK 177m in Q1-Q3 2022 – DKK 61m of which concerns Q3 2022
  • Costs (core earnings) of DKK 2,288m are 4% lower compared to the same period in 2021
  • Core earnings before impairment of DKK 1,579m are 47% higher compared to the same period in 2021
  • Impairment charges for loans and advances etc represent an income of DKK 87m – DKK 3m of which concerns Q3 2022
  • Bank loans and advances have risen by DKK 10.8bn, equal to an increase of 17% compared to end-September 2021
  • The CET1 ratio stands at 17.2%, equal to a decrease of 0.7pp compared to year-end 2021
  • A share buyback of DKK 425m was commenced on 7 March 2022



CEO Karen Frøsig comments on developments in net interest income:

  • The Danish central bank raised its key rate back to positive territory in Q3. Even though the higher interest rates will curb economic activity they should also be regarded in the long term as an adjustment which will gradually bring us back to more normal market conditions. The higher interest rates are a contributory factor in the significantly higher level of net interest income. An increase in interest payments on the Bank’s substantial deposit surplus which has thus far been subject to negative interest has strongly impacted net interest income.



Karen Frøsig comments on Sydbank’s Q1-Q3 result:

-  It is highly satisfactory to note that profitability expressed by core earnings before impairment has risen by DKK 506m, equivalent to 47%. The reason is that we have succeeded in increasing income while at the same time reducing costs. Sydbank’s resilience is thereby enhanced at a time when many customers may look to the Bank for help.

Board chairman Lars Mikkelgaard-Jensen comments on the result:

  • It is positive to note that the Bank has lifted earnings in recent years to a level which together with its financial strength may ensure that the Bank will remain robust – even if significant loan losses are recorded.



Outlook for 2022

  • Growth is projected in the Danish economy in 2022
  • Core income is expected to be higher than in 2021
  • Costs (core earnings) are projected to be lower than in 2021
  • Impairment charges for 2022 are forecast to be at a low level
  • Profit after tax is expected to be in the range of DKK 1,500-1,700m
  • The outlook for 2022 is subject to uncertainty and depends on financial market developments and macroeconomic factors

Additional information

Jørn Adam Møller, Deputy Group Chief Executive, tel

Søren Hansen Reumert, Group Executive Vice President, tel



Attachments



EN
02/11/2022

Underlying

SYDBSydbank A/S

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Sydbank A/S

 PRESS RELEASE
Free
SYDB SYDBANK A/S

Ændring af selskabskapital

Ændring af selskabskapital Selskabsmeddelelse nr. 03/2026Peberlyk 4DK-6200 AabenraaTelefon AL Sydbank A/SCVR-nr. DK 12626509, Aabenraasydbank.dk27. januar 2026  Ændring af selskabskapital På Sydbank A/S’ ekstraordinære generalforsamling den 4. december 2025 blev det besluttet at nedsætte bankens selskabskapital med nominelt 21.737.530 kr. ved annullering af 2.173.753 stk. aktier. Kreditorernes frist for at anmelde krav er udløbet, og bestyrelsen harefterfølgende besluttet at gennemføre kapitalnedsættelsen. Kapitalnedsættelsen registreres i Erhvervsstyrelsen. AL Sydbanks samlede selskab...

January 27, 2026 1 EN
 PRESS RELEASE
Free
SYDB SYDBANK A/S

Change of share capital

Change of share capital          Company Announcement No 03/2026Peberlyk 46200 AabenraaDenmarkTel AL Sydbank A/SCVR No DK 12626509, Aabenraasydbank.com27 January 2026  Dear Sirs Change of share capital At the ekstraordinay general meeting of Sydbank A/S held on 4 December 2025 it was resolved to reduce the Bank’s share capital by nominally DKK 21,737,530 by cancelling 2,173,753 shares. The creditors’ time limit for filing claims has expired and the Board ofDirectors has subsequently decided to implement the capital reduction. The capital reduction will be registered with the Danish Bus...

January 27, 2026 1 EN
 PRESS RELEASE
Free
SYDB SYDBANK A/S

Førtidsindfrielse af to Senior Non-Preferred obligationer

Førtidsindfrielse af to Senior Non-Preferred obligationer Selskabsmeddelelse nr. 02/2026Peberlyk 4DK-6200 AabenraaTelefon AL Sydbank A/SCVR-nr. DK 12626509, Aabenraasydbank.dk22. januar 2026  Ikke til offentliggørelse eller distribution, hverken direkte eller indirekte, i nogen jurisdiktion, hvor sådan offentliggørelse eller distribution ville være ulovlig Førtidsindfrielse af to Senior Non-Preferred obligationer AL Sydbank udnytter den kontraktuelle førtidsindfrielsesret (call option) i to udstedte obligationer med status af Senior Non-Preferred: ISIN DK0030522305 – SEK 800 mio. – Ud...

January 22, 2026 1 EN
 PRESS RELEASE
Free
SYDB SYDBANK A/S

Early redemption of two Senior Non-Preferred bonds

Early redemption of two Senior Non-Preferred bonds              Company Announcement No 02/2026Peberlyk 46200 AabenraaDenmarkTel Fax AL Sydbank A/SCVR No DK 12626509, Aabenraasydbank.dk22 January 2026  Not for publication or distribution, directly or indirectly, in any jurisdiction where such publication or distribution would be unlawful Early redemption of two Senior Non-Preferred bonds AL Sydbank is exercising its contractual call option to redeem two issued bonds with Senior Non-Preferred status early: ISIN DK0030522305 - SEK 800 million – issue date: 9 February 2023, first call...

January 22, 2026 1 EN
 PRESS RELEASE
Free
SYDB SYDBANK A/S

Ledende medarbejdere og nærtståendes transaktioner med aktier i Vestjy...

Ledende medarbejdere og nærtståendes transaktioner med aktier i Vestjysk Bank A/S, nu AL Sydbank A/S Selskabsmeddelelse nr. 01/2026Peberlyk 4DK-6200 AabenraaTelefon AL Sydbank A/SCVR-nr. DK 12626509, Aabenraasydbank.dk12. januar 2026  Ledende medarbejdere og nærtståendes transaktioner med aktier i Vestjysk Bank A/S, nu AL Sydbank A/S AL Sydbank A/S (AL Sydbank) offentliggør i henhold til markedsmisbrugsforordningens artikel 19 transaktioner med aktier i banken udført af ledende medarbejdere og disses nærtstående. Transaktionen blev foretaget af Aktieselskabet Arbejdernes Landsbank, nu AL...

January 13, 2026 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch