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Investing.com -- Sydbank (CSE:SYDB) shares fell more than 6% on Wednesday after the Danish lender posted a drop in first-half core income and higher costs. The company reaffirmed its full-year profit outlook.
Sydbank reported first-half 2025 profit of DKK 1.2 billion, equal to a 16.7% annualised return on equity after tax.
Core income fell 9% year-on-year to DKK 3.3 billion, driven by lower net interest income, partly offset by stronger other core income.
Trading income came in at DKK 0.1 billion, compared with DKK 0.2 billion a year earlier.
Costs rose to DKK 1.8 billion from DKK 1.7 billion, reflecting the Coop Bank acquisition and higher wages. Impairment charges for loans and advances stood at DKK 0.1 billion.
The bank recorded solid customer growth, with lending up DKK 0.2 billion in the half and deposits rising DKK 5.1 billion.
The CET1 ratio was 16.7%, down 1.1 percentage points from year-end 2024 due to the ongoing share buyback.
By end-June, shares worth DKK 0.5 billion had been repurchased under the DKK 1.35 billion programme.
For 2025, Sydbank expects profit after tax of DKK 2.2–2.6 billion, while cautioning that results remain sensitive to financial market conditions and macroeconomic developments.