Spar Nord Bank

Business and Financial Review • Oct 9, 2023

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Spar Nord upgrades its financial guidance

Company announcement no. 59

Spar Nord upgrades its expectations for profit after tax to DKK 2,350-2,550 million.

In Interim report H1 2023, Spar Nord narrowed its full-year 2023 guidance for profit after tax to the upper end of the DKK 2.1-2.4 billion range and guidance for full-year core earnings before impairment to the upper end of the DKK 2.9-3.2 billion range.

On the basis of a persistently strong credit quality for the bank’s retail and business customers, the Bank expects a profit impact from impairment charges of around DKK 0 million for 2023. As a result, the bank's full-year guidance for profit after tax is upgraded to DKK 2,350-2,550 million.

Furthermore, full-year guidance for core earnings before impairment is narrowed to the DKK 3,050-3,250 million range.

Spar Nord’s financial report for Q3 2023 will be released as scheduled on 1 November 2023.

Please direct any questions regarding this release to Lasse Nyby, Chief Executive Officer, on tel. +45 9634 4011, or Rune Brandt Børglum, Head of Investor Relations, on tel. + 45 9634 4236.

Rune Brandt Børglum

Head of Investor Relations

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• No. 59 - Spar Nord upgrades its financial guidance - UK