December 27, 2014 5:55 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

2,142 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 Announces Unaudited Group Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Announces Impairment of Loans and Advances Etc. for the Third Quarter Ended September 30, 2014

Sydbank A/S announced unaudited group earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported interest income of DKK 855 million compared to DKK 841 million a year ago. Net interest income was DKK 708 million compared to DKK 688 million a year ago. Net interest and fee income was DKK 1,099 million compared to DKK 997 million a year ago. Profit before tax was DKK 418 million compared to DKK 114 million a year ago. Profit for the period was DKK 314 million or DKK 4.3 per basic and diluted share compared to DKK 85 million or DKK 1.2 per basic and diluted share a year ago. Core income was DKK 1,094 million compared to DKK 995 million a year ago. Core earnings were DKK 397 million compared to DKK 123 million a year ago. As on September 30, 2014, the company's book value per share was DKK 151.0. For the nine months, the company reported interest income of DKK 2,517 million compared to DKK 2,644 million a year ago. Net interest income was DKK 2,051 million compared to DKK 2,181 million a year ago. Net interest and fee income was DKK 3,214 million compared to DKK 3,140 million a year ago. Profit before tax was DKK 1,050 million compared to DKK 616 million a year ago. The improvement is due to rising core income, lower impairment charges and one-off income. Profit for the period was DKK 828 million or DKK 11.3 per basic and diluted share compared to DKK 469 million or DKK 6.4 per basic and diluted share a year ago. Core income was DKK 3,225 million compared to DKK 3,047 million a year ago. Core earnings were DKK 885 million compared to DKK 352 million a year ago. Cash flows from operating activities was DKK 470 million compared to DKK 2,879 million a year ago. The company reported impairment of loans and advances etc. of DKK 129 million for the third quarter ended September 30, 2014.

Sydbank A/S, Nine Months 2014 Earnings Call, Oct 28, 2014

Sydbank A/S, Nine Months 2014 Earnings Call, Oct 28, 2014

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.

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