Spar Nord Bank

Earnings Release • Oct 23, 2024

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Spar Nord revises its financial guidance

Company announcement no. 64

Spar Nord revises its expectations for profit after tax for 2024 to DKK 2,100-2,300 million.

In Interim report H1 2024, Spar Nord reiterated its full-year 2024 guidance for profit after tax at the DKK 1,950-2,250 million range and guidance for full-year core earnings before impairment at the DKK 2.600-3,000 million range.

In Q3 2024, core earnings before impairment has been in line with the Bank’s expectations while a persistently strong credit quality for the bank’s retail and business customers has led to a minor net reversal of impairments for the sixth consecutive quarter in a row.

Against this background, Spar Nord now expects a profit impact from impairment charges of around DKK 0 million for 2024.

As a result, the bank's full-year guidance for profit after tax is revised to DKK 2,100-2,300 million.

Furthermore, full-year guidance for core earnings before impairment is narrowed to the DKK 2,700-3,000 million range.

Spar Nord’s financial report for Q3 2024 will be released as scheduled on 31 October 2024.

Please direct any questions regarding this release to Rune Brandt Børglum, Head of Investor Relations, on tel. + 45 9634 4236.

Rune Brandt Børglum

Head of Investor Relations

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• No. 64 - Spar Nord revises its financial guidance - UK