Sydbank’s Interim Report – First Half 2025

Core Performance - Sydbank reported a profit of DKK 1,212 million for H1 2025, achieving a return on equity of 16.7% after tax, positioning it as a leader among major banks in Denmark [1][8] - Core income for the period amounted to DKK 3,335 million, reflecting a 9% decrease compared to the same period in 2024, primarily due to lower net interest income, which was partially offset by a 7% increase in other core income [5][8] - Trading income was recorded at DKK 127 million, maintaining a satisfactory level despite a decline from DKK 153 million in H1 2024 [5][8] Customer Activity and Satisfaction - There was a significant influx of customers and a high level of satisfaction across customer segments, particularly among retail clients, contributing to increased activity [2][4] - Sydbank achieved the highest score ever in Aalund's annual customer satisfaction survey, with corporate clients rating the bank at 8.4, the highest among banks [4][8] Financial Position and Strategy - The CET1 ratio stands at 16.7%, having decreased by 1.1 percentage points compared to year-end 2024, attributed to the ongoing share buyback program of DKK 1,350 million [3][8] - Costs increased from DKK 1,659 million to DKK 1,765 million, mainly due to the acquisition of Coop Bank and agreed pay rises [5][8] - The bank's strategy focuses on profitable growth and responsible capital use, with ongoing share buybacks aimed at creating shareholder value [3] Outlook - Moderate growth is projected for the Danish economy, with profit after tax expected to range between DKK 2,200 million and DKK 2,600 million [8]