English (United States)

Q1 2018 Quarterly Report for Spar Nord Bank A/S

Net profit of DKK 311 million and return on equity of 15.0%.

Executive Summary
Spar Nord is pleased to report the first-quarter proft of DKK 311 million and return on equity of 15%. Obviously, the strong performance is partly attributable to the non-recurring income from BankInvest of DKK 74 million, but other than that we are pleased that our net interest income would appear to have stabilised following an extended period of high pressure. The reason is that the interest margin fall has finally levelled off, and also that we have recorded decent growth in our lending volume. We continue to see strong developments in our net fee income – not because we have raised our prices but because we keep on winning market share. Finally, we are pleased that our customers are so financially sound that we recorded income of DKK 23 million in our impairment account, said Spar Nord’s CEO Lasse Nyby.

Rune Brandt Børglum

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