Spar Nord is a bank that seeks to combine personal advice supported by active involvement and service with up-to-date and innovative digital solutions.
Spar Nord achieved a profit after tax of DKK 276 million in the first quarter of 2022, which corresponds to an annualized return on equity of 9,9 percent. Management considers the performance as satisfying.
The performance is highly generated by the high level of activity, especially in the housing area with remortgaging and house sales, as well as an increase in the bank lending area. In addition, a minor reversal of write-downs contributes positively to the result.
Based on the development in the first months of 2022 and the expectations for the remainder of the year the overall financial goal is to generate a profit in the level of DKK 1.000-1.250 million in 2022.
Developments in the banking market are characterized by swift digitalization, low growth and low interest rates and, above all, a wealth of new regulatory standards. Given these conditions, Spar Nord believes that in future most customers will still wish to speak with a REAL person about their financial affairs. We also believe that it calls for strong digital solutions if you want to survive and be successful. This is why Spar Nord’s ambition is to become “The Personal Bank in a Digital World”.