April 30, 2014 / 6:46 AM / 3 years ago

Sydbank Q1 lags forecast, sees lower writedowns in 2014

COPENHAGEN, April 30 (Reuters) - Sydbank reported a first-quarter pretax profit below forecast on Wednesday and guided for lower writedowns for the full year.

The bank, Denmark’s third-biggest by market capitalisation, said pretax profit rose 80 percent to 331 million Danish crowns ($61.3 million), below analysts’ forecast of 345 million crowns.

Sydbank continues to project rising core income and trading income, but said it had lowered guidance for impairment charges to between 950 million and 1.1 billion crowns in 2014 from earlier guidance of less than 2013’s 1.861 billion crowns.

$1 = 5.4020 Danish Crowns Reporting by Copenhagen newsroom; Editing by Mark Potter

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