Spar Nord Bank A/S Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year of 2014
For the nine months, the group reported that was net interest income was DKK 1,322.3 million compared to DKK 1,391.9 million a year ago. Core income was DKK 2,419.8 million compared to DKK 2,177.2 million a year ago. Core earnings before impairment was DKK 1,107.2 million compared to DKK 886.8 million a year ago. Core earnings were DKK 818.9 million compared to DKK 575.6 million a year ago. Profit on ordinary operations was DKK 837.9 million compared to DKK 616.9 million a year ago. Profit before tax was DKK 761.0 million compared to DKK 491.2 million a year ago. Profit was DKK 635.3 million compared to DKK 383.4 million a year ago. Cash generated from operations, total was DKK 3,121.9 million compared to cash used in operations of DKK 1,958.9 million a year ago. Return on equity after tax was 11.2% compared to 8.0% a year ago.
The Group's full-year of 2014 core earnings before impairment are now expected to hover around DKK 1,200 million corresponding to an upward adjustment of the forecast earnings from operations of DKK 100 million compared with the forecast at the beginning of the year.