Sydbank Reports Record-High Core Income in 2024 Amidst Profit Decline

Sydbank A/S ( (GB:0MGE) ) has provided an update.

Sydbank’s 2024 financial results show a highly satisfactory profit driven by record-high core income, despite a decrease in profit before tax due to increased impairment charges. The bank achieved a profit before tax of DKK 3,645m, with a return on equity of 24.6%, and profit after tax reaching DKK 2,762m, aligning with the upper end of projected expectations. The bank’s strong capital base allows for a substantial distribution of profit through dividends and a new share buyback program. The outlook for 2025 anticipates moderate growth in the Danish economy, with profit after tax expected to be between DKK 2,200-2,600m, contingent on interest rate adjustments and macroeconomic conditions.

More about Sydbank A/S

Sydbank A/S is a financial institution operating in the banking industry, primarily offering services such as asset management, savings, investments, and bank lending. The bank focuses on the Danish market, leveraging strong business momentum and customer activity to drive its core income.

YTD Price Performance: 10.51%

Average Trading Volume: 36,328

Technical Sentiment Consensus Rating: Sell

Current Market Cap: DKK22.23B

For detailed information about 0MGE stock, go to TipRanks’ Stock Analysis page.