Brief: BankNordik Q4 net result swings to profit of DKK 20.5 mln

Foeroya Banki P/F

27/02/2017 07:02

Feb 27 (Reuters) - BankNordik P/F  BNORDIK.CO : 
    * Q4 net interest income 100 million Norwegian crowns ($12 
million) versus 111 million crowns year ago 
    * Q4 loan losses 10.3 million crowns versus loan losses 26.1 
million crowns year ago 
    * Q4 net profit 20.5 million crowns versus loss 308.0 
million crowns year ago 
    * Expects a modest increase in private and corporate lending 
volumes in 2017 
    * Expects profit before impairment charges, value 
adjustments and tax to be in range of 150 million Danish 
crowns-190 million crowns in 2017 (2016: 179 million crowns) 
    * Impairment charges on loans and advances, including a 
reversal of acquired oei impairments, are estimated to be less 
than 20 million crowns in 2017 (2016: reversal of 12 millon 
crowns) 
    * Fee and commission income is also expected to increase 
modestly in 2017, whereas income from investment portfolio is 
expected to be close to 2016 level 
    * 2017 operating costs are expected to stay flat compared to 
2016 
    * Board will propose a total dividend payment of 300 million 
crowns for 2016 (30 crowns per share) 
 
Source text for Eikon:  ID:nICE6MPl  
     
Further company coverage:  BNORDIK.CO  
 
($1 = 8.3661 Norwegian crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))