Brief: Spar Nord Upgrades Financial Guidance

Spar Nord Bank A/S

20/04/2021 07:47

April 20 (Reuters) - Spar Nord Bank A/S  SPNO.CO :
    * UPGRADES ITS FINANCIAL GUIDANCE
    * RAISES ITS EXPECTATION FOR YEAR'S CORE EARNINGS BEFORE IMNPAIRMENT TO DKK 1,200-1,400
MILLION.
    * AT END OF Q1 OF 2021, MANAGEMENT ESTIMATE RELATED TO COVID-19 IS UNCHANGED AT DKK 320
MILLON.
    * BASED ON UPGRADED GUIDANCE FOR CORE EARNINGS BEFORE IMPAIRMENT COMBINED WITH EXPECTED
LOWER
IMPAIRMENT CHARGES, EXPECTATION FOR PROFIT AFTER TAX FOR YEAR IS RAISED TO DKK 850-1,050
MILLION.
    * EXPECTATION FOR PROFIT AFTER TAX FOR YEAR IS RAISED TO DKK 850-1,050 MILLION.
    * Q1 OF 2021 HAS SHOWN HIGH ACTIVITY IN HOUSING MARKET AS WELL AS WITHIN SECURITIES TRADING
AND
ASSET MANAGEMENT LEADING TO HIGHER-THAN-EXPECTED NET FEE INCOME
    * POSITIVE DEVELOPMENTS IN FINANCIAL MARKETS HAS CONTRIBUTED TO POSITIVE MARKET VALUE
ADJUSTMENTS
ON BANK'S EQUITY PORTFOLIO

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

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