NORDIC BUSINESS REPORT-July 9, 2020-Spar Nord revises financial guidance for 2020 amid COVID-19 pandemic
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Danish bank Spar Nord A/S (CPH:SPNO) on Wednesday revised its financial guidance and now expects core earnings, before impairment, for the full year 2020 in the DKK800m to DKK1,050m range.
This revision is backed by positive developments in the financial markets in the second quarter of 2020 and in combination with satisfactory developments in net interest and fee income, along with the cost-cutting measures.
Guidance for profit after tax, suspended since March 2020 due to the COVID-19 pandemic, is now reintroduced at DKK350m to DKK550m.
Due to the COVID-19 outbreak and the political decisions and resulting...