Brief: Spar Nord Q4 Net Profit Rises To NOK 182 Mln

Spar Nord Bank A/S

06/02/2020 07:47

Feb 6 (Reuters) - Spar Nord Bank A/S  SPNO.CO :
    * REG-SPAR NORD ANNUAL REPORT 2019
    * Q4 NET INTEREST INCOME DKK 396 MILLION VERSUS DKK 390
MILLION
YEAR AGO
    * THE BOARD OF DIRECTORS WILL RECOMMEND TO THE SHAREHOLDERS
AT THE
ANNUAL GENERAL MEETING THAT A DIVIDEND OF DKK 3.5 PER SHARE BE
DISTRIBUTED FOR 2019 – ON A LEVEL WITH 2018.
    * Q4 LOAN LOSSES DKK 12 MILLION VERSUS DKK 106 MILLION YEAR
AGO
    * SPAR NORD EXPECTS SOCIO-ECONOMIC CONDITIONS IN 2020 TO BE
THE
SAME AS THOSE PREVAILING IN 2019
    * OUTLOOK 2020: WITH RESPECT TO FEE INCOME, SPAR NORD DOES
NOT
EXPECT TO BE ABLE TO MAINTAIN THE RECORD-HIGH LEVEL OF 2019
    * Q4 NET PROFIT NOK 182 MILLION VERSUS NOK 71 MILLION YEAR
AGO
    * 2020 LOAN IMPAIRMENT CHARGES ARE EXPECTED TO BE HIGHER
THAN IN
2019, ALBEIT STILL AT A LOW LEVEL, AND PROFIT AFTER TAX IS
SUBSEQUENTLY EXPECTED TO BE IN THE RANGE OF DKK 625-825 MILLION
    * OUTLOOK 2020: EQUITY MARKET PERFORMANCES ARE EXPECTED TO
BE
SOMEWHAT LESS POSITIVE THAN IN 2019
    * OUTLOOK 2020: PROJECTS CORE EARNINGS BEFORE IMPAIRMENT IN
THE
DKK 900 - 1,100 MILLION RANGE
    * OUTLOOK 2020: LOAN IMPAIRMENT CHARGES ARE EXPECTED TO BE
HIGHER
THAN IN 2019, ALBEIT STILL AT A LOW LEVEL,
    * OUTLOOK 2020: PROFIT AFTER TAX IS SUBSEQUENTLY EXPECTED TO
BE IN
THE RANGE OF DKK 625-825 MILLION

Source text for Eikon:  ID:nGNE2g9gNd 
Further company coverage:  SPNO.CO 

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