Correction: Revaluation of BankNordik’s equity position in BI Holding A/S

Company announcement

Announcement no. 11/2018

Correction of Announcement no. 10/2018 caused by change in category for the Announcement.

The Board of Directors of BI Holding A/S has decided upon changing the applied valuation method of the company’s shares.

The change in valuation method triggers a revaluation gain of DKK 21m before tax, which is proportional to BankNordik’s equity position in BI Holding A/S.

Accordingly, the Group is revising its FY2018 net profit guidance upwards from earlier announced DKK 150-200m to DKK 165-215m. Guidance on operating profit before impairment charges in the range of DKK 160-200m is reconfirmed.

For additional information, please contact:
Árni Ellefsen, CEO, tel. (+298) 230 348

BankNordik has banking activities in Denmark, Greenland and the Faroe Islands and insurance activities in the Faroe Islands. Founded in the Faroe Islands more than a century ago, the Group has total assets of DKK 15.8bn and 400 employees. The Bank is subject to the supervision of the Danish Financial Supervisory Authority and is listed on Nasdaq Copenhagen.