Spar Nord Bank A/S
Q1 2015 Quarterly Report for Spar Nord Bank A/S
DGAP-News: Spar Nord Bank A/S 2015-04-29 / 08:12 --------------------------------------------------------------------- High activity in the housing and asset area and the sale of shares in Nørresundby Bank generated a pre-tax profit of DKK 533 million and an annualized 29.4% return on equity - forecasts for full-year core earnings before impairment adjusted upwards by DKK 100 million * Core income for Q1 amounted to DKK 1,140 million, equal to a 26% rise on Q1 2014. Adjusted for the impact of the sale of the Nørresundby Bank shareholding and of Nets shares, last year growth reached 25%. * Net interest income rose 9% on the same period last year, but was 5% down on the previous quarter - the decline is due to fewer interest days and continued pressure on the lending volume. * The highly positive growth in fees continued, with a 52% rise compared with the same period of 2014 - particularly the housing area experienced an extremely high activity level. * Market-value adjustments and dividends amounted to as much as DKK 359 million due to the sale of shares in Nørresundby Bank - the underlying growth was also satisfactory. * Total core earnings before impairment in Q1 amounted to DKK 656 million, 45% up on the same period of 2014, and adjusted for the impact of the sale of the Nørresundby Bank shareholding and last year's sale of shares in Nets, this represents a 60% growth. * Loan losses amounted to DKK 98 million, equal to an impairment ratio of 0.84% p.a. - loan losses are declining markedly in all areas except for agriculture. * The Group's total business volume grew by 3% on end-2014, for the first time exceeding DKK 200 billion - growth was driven by a high activity level in the assets, savings and mortgage credit areas, while the lending volume dropped by 2%. * The forecast for full-year core earnings before impairment has been adjusted upwards from about DKK 1.4 billion to DKK 1.5 billion. News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-04-29 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Spar Nord Bank A/S Denmark ISIN: DK0060036564 End of News DGAP News-Service --------------------------------------------------------------------- 350211 2015-04-29
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found