Company Announcement 51/2025 | Peberlyk 4 6200 Aabenraa Denmark Tel +45 74 37 37 37 Fax +45 74 37 35 36 Sydbank A/S CVR No DK 12626509, Aabenraa sydbank.dk |
| 29 October 2025 |
Dear Sirs
Sydbank delivers a highly satisfactory profit in Q3 2025 and further clarifies profit forecast for 2025
Profit after tax for Q3 2025 rises to DKK 710m from DKK 567m in Q2 2025.
The first three quarters of the year are characterised by growth in almost all parameters. The Bank has expanded its business without compromising on profitability. It has delivered a return on equity of 17.4% and is also attracting more customers and more satisfied customers from all three segments - corporate, retail and Private Banking - in spite of macroeconomic uncertainty and a general reluctance to invest.
Outlook for 2025
Profit after tax is expected to be in the range of DKK 2,400-2,600m compared to a previously expected range of DKK 2,200-2,600m.
The outlook is subject to uncertainty and depends among other aspects on financial market developments and macroeconomic factors which may affect eg the level of impairment charges.
| Income statement | Q1-Q3 | |||||
| (DKKm) | 2025 | 2024 | Q3 2025 | Q2 2025 | ||
| Core income | 4,986 | 5,447 | 1,651 | 1,635 | ||
| Trading income | 204 | 223 | 77 | 63 | ||
| Total income | 5,190 | 5,670 | 1,728 | 1,698 | ||
| Costs, core earnings | 2,576 | 2,453 | 811 | 884 | ||
| Core earnings before impairment | 2,614 | 3,217 | 917 | 814 | ||
| Impairment of loans and advances etc | 115 | 87 | 18 | 62 | ||
| Core earnings | 2,499 | 3,130 | 899 | 752 | ||
| Investment portfolio earnings | 77 | 69 | 38 | 15 | ||
| Profit before non-recurring items | 2,576 | 3,199 | 937 | 767 | ||
| Non-recurring items, net | 32 | 4 | (9) | (10) | ||
| Profit before tax | 2,544 | 3,195 | 928 | 757 | ||
| Tax | 622 | 799 | 218 | 190 | ||
| Profit for the period | 1,922 | 2,396 | 710 | 567 | ||
| Core income | Q1-Q3 | ||||
| (DKKm) | 2025 | 2024 | Q3 2025 | Q2 2025 | |
| Net interest etc | 2,750 | 3,356 | 901 | 899 | |
| Mortgage credit | 454 | 415 | 153 | 157 | |
| Payment services | 212 | 222 | 77 | 71 | |
| Remortgaging and loan fees | 129 | 126 | 38 | 42 | |
| Commission and brokerage | 386 | 358 | 119 | 128 | |
| Commission etc investment funds and pooled pension plans | 264 | 235 | 91 | 81 | |
| Asset management | 383 | 331 | 133 | 124 | |
| Custody account fees | 81 | 78 | 27 | 25 | |
| Other operating income | 327 | 326 | 112 | 108 | |
| Total | 4,986 | 5,447 | 1,651 | 1,635 | |
The Interim Report - Q1-Q3 2025 will be published as scheduled on 5 November 2025.
Further information
Jørn Adam Møller, Deputy Group Chief Executive, Tel +45 74 37 20 30
Louise Degn, Press Officer, Tel +45 20 28 81 18
Yours sincerely
Mark Luscombe Jørn Adam Møller
CEO Deputy Group Chief Executive
