Aabenraa, Denmark, 2013-08-21 08:28 CEST (GLOBE NEWSWIRE) --
The Sydbank Group has recorded a profit before tax of DKK 502m. The result is considered satisfactory given the trend in the economy. The performance meets the expectations at the beginning of the year. Profit before tax equals a return of 9.8% p.a. on average shareholders’ equity. The result is characterised by:
4% decline in core income
4% decrease in trading income
Unchanged costs (core earnings)
DKK 301m decline in impairment charges for loans and advances
Investment portfolio earnings of DKK 284m
2% increase in bank loans and advances to DKK 67.8bn
Slight rise in level of deposits
Core capital ratio, incl hybrid core capital, of 16.2%.
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