Sydbank A/S to revise its expectations upwards as regards profit for 2023.

Dear Sirs

Sydbank A/S to revise its expectations upwards as regards profit for 2023.

Profit after tax now expected to be in the range of DKK 3,200-3,350m.

Expectations are revised upwards to a profit after tax in the range of DKK 3,200-3,350m. When the interim report for Q1-Q3 2023 was published profit for the year after tax was expected to be in the range of DKK 3,000-3,200m.

The upward revision is based on the fact that the development in the core income, the need for impairment charges and the investment portfolio earnings has been more favourable than anticipated.

The 2023 Annual Report is expected to be published on 28 February 2024.

The outlook for 2023 is subject to uncertainty and depends on financial market developments and macroeconomic factors.

Yours sincerely
        
Karen Frøsig        Jørn Adam Møller
CEO                    Deputy Group Chief Executive

Additional information
Jørn Adam Møller, Deputy Group Chief Executive, tel +45 74 37 20 30
Susanne Ingemann Faber, Press Manager, tel +45 26 29 11 29

Attachment

• SM 45_UK