Interim Report for H1 2021 for Spar Nord Bank A/S

Spar Nord achieved a profit after tax of DKK 686 million in the first six months of 2021, which corresponds to an annualized return on equity of 13,4 percent. Management considers the performance as very satisfying. The equity of Spar Nord has now exceeded DKK 10 billion.

The performance for the six months of 2021 is highly generated by the high level of activity, especially in the housing area with remortgaging and house sales, as well as a favorable interest rate development. In addition, the reversal of write-downs contributes positively to the result.

Based on the development in the first months of 2021 and the expectations for the remainder of the year Spar Nord for the second time this year chose to raise the expectations for the entire year in July to DKK 1.100-1.300 million.