Brief: Spar Nord Upgrades Its Financial Guidance

Spar Nord Bank A/S

09/09/2020 07:50

Sept 9 (Reuters) - Spar Nord Bank A/S  SPNO.CO :
    * REG-SPAR NORD UPGRADES ITS FINANCIAL GUIDANCE
    * BACKED BY CONTINUED POSITIVE DEVELOPMENTS IN FINANCIAL
MARKETS
IN RECENT MONTHS, SPAR NORD NOW EXPECTS CORE EARNINGS BEFORE
IMPAIRMENT FOR FULL YEAR 2020 IN DKK 1,000-1,200 MILLION RANGE
    * BANK'S GUIDANCE FOR PROFIT AFTER TAX IS UPGRADED TO RANGE
OF DKK
500-700 MILLION FOR FULL YEAR 2020
    * UPGRADE WAS DRIVEN BY POSITIVE FINANCIAL MARKET
DEVELOPMENTS IN
Q2 OF 2020 COMBINED WITH SATISFACTORY DEVELOPMENTS IN NET
INTEREST AND FEE INCOME ALONG WITH SPECIFIC COST-CUTTING
MEASURES.
    * EXPECTED LOAN IMPAIRMENT CHARGES FOR FULL YEAR REMAINS
UNCHANGED
COMPARED TO GUIDANCE IN INTERIM REPORT H1 2020
    * GUIDANCE RANGE IS MAINTAINED AT DKK 200 MILLION DUE TO
SUBSTANTIAL UNCERTAINTY RESULTING FROM COVID-19.

Source text for Eikon:  ID:nGNE90wrVv 
Further company coverage:  SPNO.CO 

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