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Sydbank: 1Q24 Results Positive, No Upgrade.

FINANCIALS

Sydbank (SYDBDC; A3 pos) 1Q24 results headlines looks like a 3% revenue beat, loan losses in line, driving a 10% net income beat but no upgrade to FY24 guidance. Positive lateral for Jyske, Nykredit, Danske (results 3-May).

  • SYDBANK CET1 RATIO 17.4% (est: 17.3%)
  • SYDBANK 1Q TOTAL INCOME DKK1.94B, EST. DKK1.88B
  • SYDBANK 1Q NET INCOME DKK861M, EST. DKK776.3M
  • SYDBANK STILL SEES FY NET DKK2.50B TO DKK2.90B, EST. DKK2.92B
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