Q1 2020 Quarterly Report for Spar Nord Bank A/S

Net proft of DKK 24 million and return on equity of 0.5%

Spar Nord achieved a net profit of DKK 24 million in Q1 2020, which corresponds to an annualised return on equity of 0.5%. Seen in isolation, the performance is unsatisfactory, but management considers the profit satisfactory in a quarter impacted by the COVID-19 pandemic and its economic consequences.