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BRIEF-Sydbank sees 2017 core income on par with core income in 2016
August 29, 2017 / 6:52 AM / 2 months ago

BRIEF-Sydbank sees 2017 core income on par with core income in 2016

Aug 29 (Reuters) - SYDBANK A/S:

* SEES 2017 CORE INCOME TO BE ON PAR WITH CORE INCOME GENERATED IN 2016 (BASED ON LEVEL OF INTEREST RATES AT BEGINNING OF 2017)

* IMPAIRMENT CHARGES IN 2017 ARE FORECAST TO BE LOWER THAN LEVEL RECORDED IN 2016

* BASED ON LEVEL OF INTEREST RATES AT BEGINNING OF 2017, CORE INCOME IS EXPECTED TO BE ON A PAR WITH CORE INCOME GENERATED IN 2016

* 2017 TRADING INCOME IS ANTICIPATED TO REMAIN UNCHANGED RELATIVE TO INCOME IN 2016 BUT IS DEPENDENT ON FINANCIAL MARKET DEVELOPMENT

* IMPAIRMENT CHARGES IN 2017 ARE FORECAST TO BE LOWER THAN LEVEL RECORDED IN 2016

* Q2 TOTAL CORE INCOME DKK 1.09 BILLION (REUTERS POLL DKK 1.10 BILLION)

* Q2 PRE-TAX PROFIT DKK 473 MILLION (REUTERS POLL DKK 429 MILLION)

* AS A RESULT OF INTENSIFIED DIGITIZATION OF BANK AS WELL AS ESTABLISHMENT OF A NEW MORTGAGE PLATFORM, NON-RECURRING COSTS ARE EXPECTED TO REPRESENT AROUND DKK 75M IN 2017

* Q2 CORE EARNINGS DKK 428 MILLION (REUTERS POLL DKK 418 MILLION) Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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