Q1 2022 Quarterly Report for Spar Nord Bank A/S

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.

Rune Brandt Børglum

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