September 19, 2014 5:38 PM ET

Banks

Company Overview of Sydbank A/S

Company Overview

Sydbank A/S, together with its subsidiaries, provides various banking services to corporate and retail customers in Denmark and internationally. The company operates in Banking, Asset Management, Sydbank Markets, Treasury, and Other segments. It offers various deposits, and loans and advances. The company also provides wealth management, financial advisory, and private banking services; digital information and trading systems for securities and foreign exchange trading; and advisory and management services to instance investment funds, pension pools, foundations, and institutional clients, as well as wealthy clients through individual portfolio management agreements. In addition, it offers c...

Peberlyk 4

Aabenraa,  6200

Denmark

2,187 Employees

Phone:

45 74 37 37 37

Fax:

45 74 37 35 49

Key Executives for Sydbank A/S

Chief Executive Officer
Age: 56
Total Annual Compensation: $5.3M
Deputy Group Chief Executive
Age: 51
Total Annual Compensation: $2.2M
Deputy Group Chief Executive and Group Executive Vice President of Corporate Banking & Finance
Age: 51
Total Annual Compensation: $800.0K
Compensation as of Fiscal Year 2013.

Sydbank A/S Key Developments

Sydbank A/S to Reduce Staff and Branches in 2014 and 2015

Sydbank A/S plans to scale up high street branch closures and plans more layoffs in 2014 and 2015. The bank said that it expects integration and restructuring costs of about DKK 75 million for 2014.

Sydbank A/S Reports Un-Audited Group and Company Earnings Results for the Second Quarter and Group Earnings Results for the First Half Ended June 30, 2014; Reports Impairment of Loans and Advances Etc. for the Second Quarter of 2014; Provides Earnings and Impairment Charges Guidance for the Year 2014

Sydbank A/S reported un-audited group and company earnings results for the second quarter and group earnings results for the first half ended June 30, 2014. For the first half, the group reported total income of DKK 2,283 million compared to DKK 2,213 million, core earnings before impairment of DKK 918 million compared to DKK 903 million, core earnings of DKK 488 million compared to DKK 229 million, profit before tax of DKK 632 million compared to DKK 502 million, profit of DKK 514 million or DKK 7.0 per diluted share compared to DKK 384 million or DKK 5.2 per diluted share for the last year. Interest income was DKK 1,662 million compared to DKK 1,804 million, net interest income was DKK 1,343 million compared to DKK 1,495 million, cash flows from operating activities was DKK 31 million compared to DKK 680 million for the last year. For the quarter, the group reported total income of DKK 1,142 million compared to DKK 1,091 million, core earnings before impairment of DKK 481 million compared to DKK 442 million, core earnings of DKK 370 million compared to DKK 370 million, profit before tax of DKK 301 million compared to DKK 318 million, profit of DKK 228 million or DKK 3.1 per diluted share compared to DKK 247 million or DKK 3.4 per diluted share for the last year. Book value per share as on June 30, 2014 was DKK 146.7 compared to DKK 142.6 per share as on June 30, 2013. For the first half, interest income was DKK 1,664 million compared to DKK 1,805 million, net interest income was DKK 1,348 million compared to DKK 1,496 million, profit before tax of DKK 632 million compared to DKK 502 million, profit of DKK 514 million or DKK 7.0 per diluted share compared to DKK 384 million or DKK 5.2 per diluted share for the last year. Profit for the period equals a return on average shareholders' equity of 9.8% p.a. against 7.5% p.a. in 2013. Impairment of loans and advances etc. for the second quarter of 2014 was DKK 111 million compared to DKK 325 million in last year. Trading income is projected to increase relative to 2013 due in part to the acquisition of DiBa Bank. Expectations for impairment charges are lowered to DKK 700 million - DKK 800 million where the previously announced expectation was DKK 950 million - DKK 1,100 million.

Sydbank A/S, H1 2014 Earnings Call, Aug 20, 2014

Sydbank A/S, H1 2014 Earnings Call, Aug 20, 2014

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