15.10.2021 14:17:34 CEST | BankNordik | Inside information

Announcement no. 20/2021

BankNordik is adjusting its guidance for the net profit for 2021 from DKK 190-220m to DKK 230-250m.

The adjustment is mainly driven by impairments being lower than expected as well as improvements in the Bank’s operating profit in the third quarter, which was also characterised by higher than expected claims in the Group’s insurance business. BankNordik previously adjusted its financial guidance for 2021 on 19 july.

Due to the sale of BankNordik’s Danish activities, effective 1 February 2021, the financial guidance includes relatively high one-offs, primarily related to the sales revenue, totalling DKK 90m before tax.

Due to the reduced REA resulting from the sale, BankNordik expects to distribute DKK 700m in extraordinary dividends to its shareholders. At the Bank’s extraordinary general meeting on 22 october, it is expected that the distribution of DKK 450m of the DKK 700m will be approved.

The Bank’s Q3 2021 results will be published on 2 November 2021.

Further information:

Árni Ellefsen, CEO, tel. (+298) 230 348

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