Aabenraa, Denmark, 2011-08-16 13:29 CEST (GLOBE NEWSWIRE) --
Summary
The Sydbank Group recorded a pre-tax profit of DKK 181m. The result is adversely affected by a provision for the Deposit Guarantee Fund in connection with the bankruptcies of Amagerbanken and Fjordbank Mors.
The return on average shareholders’ equity before tax of 3.8% p.a. is not satisfactory in absolute terms albeit acceptable given the current market conditions.
The Group continues to project core earnings before impairment charges for loans and advances in the region of DKK 1.7-2.0bn in 2011 – unchanged compared with previous announcements.
