Company Announcement No 46/2022

Company Announcement No 46 /202 2	Peberlyk 4 6200 Aabenraa, Denmark Tel [phone] Fax [phone] Sydbank A/S CVR No DK 12626509, Aabenraa sydbank.dk
19 September 2022

Dear Sirs

Sydbank A/S raises guidance for 2022

Profit after tax in the range of DKK 1,500-1,700m now expected

Expectations for profit after tax are adjusted upwards to be in the range of DKK 1,500-1,700m. In connection with the release of the Interim Report – First Half 2022 on 24 August 2022, we announced that we expected profit after tax to be in the range of DKK 1,350-1,550m for 2022.

Developments in Q3 2022 have been characterised by:

• a significant increase in core income
• continued tight cost control

Impairment charges for loans and advances etc are expected to have a limited impact on profit for Q3 2022. The management estimates are expected to be unchanged at end-Q3 2022.

The outlook for 2022 is subject to uncertainty and depends on financial market developments and macroeconomic factors.

Sydbank’s Interim Report – Q1-Q3 2022 will be released on 2 November 2022 as planned.

Yours sincerely
        
Karen Frøsig        Jørn Adam Møller
CEO                    Deputy Group Chief Executive

Additional information
Jørn Adam Møller, Deputy Group Chief Executive, tel [phone]
Susanne Ingemann Faber, Press Manager, tel [phone]

Attachment

• SM46_UK