Slide 1: Interim Report - Q1 2025 Sydbank Group
Interim Report - Q1 2025 Sydbank Group 7 May 2025 Sydbank
Slide 2: Highlights Q1 2025
Highlights Q1 2025 Profit Profit of DKK 645m – ROE of 17.4% p.a. after tax Core income Core income of DKK 1,700m in Q1 2025 – down by 8% compared with Q1 2024 Trading income Trading income of DKK 64m in Q1 2025 Costs Costs (core earnings) of DKK 881m in Q1 2025 – compared with DKK 831m in Q1 2024 Im
Slide 3: Core income – down by 8%
Core income – down by 8% Other core income up by 7% Key points Q1 2025 vs Q1 2024 DKKm Q1 2025 Q1 2024 Index Q1 2025 Q4 2024 Index • Net interest income etc down by 17% Net interest income etc 950 1,146 83 950 1,035 92 • Mortgage credit down by 4% Mortgage credit 144 150 96 144 155 93 • Payment serv
Slide 4: Net interest income etc
Net interest income etc Development from Q4 2024 to Q1 2025 DKKm 1,100 85 68 1,050 1 23 1,035 1,000 6 75 3 950 950 900 850 Q4 2024 2 days less Decrease in Decrease in Decrease in Decrease in Deposit surplus Other Q1 2025 deposit rates lending rates deposits, lending, average etc average 4
Slide 5: Core income – down by 8%
Core income – down by 8% Other core income up by 7% -8% DKKm 1,750 1,500 636 678 703 638 686 702 745 649 750 1,250 668 1,000 673 750 1,202 1,166 1,146 1,116 1,111 1,099 1,035 500 986 950 836 618 250 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 22 22 23 23 23 23 24 24 24 24 25 Net interest income etc Other cor
Slide 6: Trading income
Trading income – satisfactory income in Q1 2025 DKKm 120 117 100 107 80 89 60 69 70 64 64 54 40 45 35 20 0 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 6
Slide 7: Costs (core earnings)
Costs (core earnings) Savings of DKK 14m in Q1 2025 DKKm 900 31 33 14 800 700 833 797 881 881 600 831 779 500 400 Q1 21 Q1 22 Q1 23 Q1 24 Rise in Coop Bank Savings Q1 25 costs 4.0% 7
Slide 8: Impairment charges for loans and advances etc
Impairment charges for loans and advances etc Expense of DKK 35m in Q1 2025 Key points Impairment of loans and advances etc DKKm • Impairment charges for loans and advances represent DKK 35m • At 31 March 2025 the Group maintained a management estimate 500 of DKK 500m to hedge macroeconomic uncertai
Slide 9: Impairment charges – by industry
Impairment charges – by industry DKKm Impairment charges - quarterly Key points Q1 2025 • Impairment charges as regards corporate exposures represent an expense 500 of DKK 39m • Impairment charges as regards retail exposures represent an income of 400 DKK 4m 300 200 100 Quarterly impairment charges
Slide 10: Investment portfolio earnings
Investment portfolio earnings DKKm Key points 33 • Investment portfolio earnings in Q1 2025: DKK 24m 30 28 • Investment portfolio earnings in 12M 2024: DKK 73m 24 24 12 1 4 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 DKKm Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Position-taking 25 0 -3 12 1 -4 Liquid
Slide 11: Income statement
Income statement – ROE of 17.4% in Q1 2025 DKKm Q1 2025 Q1 2024 Index Q1 2025 Q4 2024 Index Key points Q1 2025 vs Q1 2024 Core income 1,700 1,849 92 1,700 1,780 96 • Core income down by 8% Trading income 64 89 72 64 45 142 • Trading income down by 28% Total income 1,764 1,938 91 1,764 1,825 97 • Cos
Slide 12: Loans/advances and deposits
Loans/advances and deposits - loans down by DKK 1.2bn and deposits up by DKK 1.4bn in Q1 2025 DKKbn 120 118.1 116.7 114.8 111.7 111.6 109.2 110 106.8 102.7 100 90 82.5 82.5 81.3 79.2 80 77.9 74.6 74.5 72.1 70 60 50 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Deposits and other debt Loans 12
Slide 13: Credit facilities to corporate clients
Credit facilities to corporate clients 34% growth since Q4 2020 DKKbn Key points Q1 2025 vs Q4 2024 120 • Lending to corporate clients before impairment 110 charges down by DKK 1.4bn 100 • Undrawn facilities up by DKK 1.0bn 90 47.9 47.1 46.3 44.6 43.8 44.8 80 40.1 42.0 43.3 44.9 49.0 37.4 37.3 39.9
Slide 14: Total credit intermediation
Total credit intermediation Total credit intermediation Q4 Q4 Q4 Q1 Change Key points Q1 2025 DKKbn 2022 2023 2024 2025 Q1 Bank loans - retail 13.7 12.7 14.2 14.5 0.3 • Total credit intermediation down by DKK 0.3bn Bank loans - corporate 60.1 61.8 68.3 66.8 -1.5 • Corporate clients: total credit int
Slide 15: Capital ratio down by 1.4pp in Q1 2025
Capital ratio down by 1.4pp in Q1 2025 Q4 Q4 Q4 Q1 • In Q1 2025 the capital ratio dropped by 1.4pp due to the initiated DKKm 2022 2023 2024 2025 share buyback programme of DKK 1,350m. Credit risk 41,018 39,187 40,721 42,326 • Inclusion of 50% of profit for the period. Market risk 5,363 6,047 6,024 4
Slide 16: Capital ratio in 2025
Capital ratio in 2025 Capital ratio down by 1.4pp Capital ratio 1 Jan 2025 Capital ratio is down by 1.4pp in Q1 2025 due to: 21.4 Share buyback DKK 1,350m 2.1 • Share buyback programme of DKK 1,350m • Inclusion of 50% of profit for the period Profit for the period 1.0 • Decrease in REA Profit not in
Slide 17: Outlook for 2025
Outlook for 2025 • Moderate growth is projected for the Danish economy. • Profit after tax is expected to be in the range of DKK 2,200-2,600m. • The profit forecast assumes that the Danish central bank will lower interest rate by 1pp in 2025. • The outlook is subject to uncertainty and depends on fi
Slide 18: Forward-looking statements
Forward-looking statements • This presentation contains statements concerning expectations of future developments, including future income as well as expected business events. Such statements are by their nature uncertain and associated with risks as many factors – of which some may be beyond Sydban
Slide 19: Sydbank
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