Quarterly Report, Q1-Q3 2021, for Spar Nord Bank A/S
Spar Nord achieved a profit after tax of DKK 1.034 million in the first nine months of 2021, which corresponds to an annualized return on equity of 13,2 percent. Management considers the performance as very satisfying. The equity of Spar Nord has now exceeded DKK 10 billion.
The performance for the nine months of 2021 is highly generated by the high level of activity, especially in the housing area with remortgaging and house sales, as well as a favorable interest rate development. In addition, the reversal of write-downs contributes positively to the result.
Based on the development in the first three quarters of 2021 and the expectations for the remainder of the year Spar Nord for the third time this year chose to raise the expectations for the entire year in October to DKK 1.250-1.350 million.