Company Announcement No 39/2025
27 August 2025
Sydbank’s Interim Report – First Half 2025
Sydbank delivers solid H1 performance
Despite declining interest rates and global uncertainty, Sydbank continues to deliver a return on equity at the top among the major banks while attracting more customers, increasing credit intermediation and lifting assets under management.
Sydbank’s financial statements for the first six months of 2025 show a resilient bank in a more subdued environment. The Bank has generated a profit of DKK 1,212m, equal to a return on equity of 16.7% after tax – placing it at the top of the largest banks in Denmark. In H1 total credit intermediation went up by DKK 1.6bn and there was an upward trend in customer satisfaction.
– There is a healthy influx of customers, a high level of satisfaction across our customer segments and increased activity – activity among retail clients in particular was significant in the first six months. Despite the decline in net interest income, which was expected, the higher level of activity along with the increase in other core income has helped us to ensure that core income remains satisfactory and demonstrates that our core business is in a strong position, comments CEO Mark Luscombe.
– Our strategy is based on profitable growth and responsible use of capital. With a CET1 ratio of 16.7% and an ongoing share buyback programme of DKK 1,350m, we are in a strong position to create value for shareholders and support customers – also in a more volatile market, comments board chairman Ellen Trane Nørby.
Even though corporate clients continue to show some restraint, there is a positive trend in activity compared to the previous quarter.
- We are also very grateful for the acknowledgement we have received from our corporate clients, who have given Sydbank the highest score ever in Aalund’s annual customer satisfaction survey, comments Mark Luscombe.
In H1 core income amounted to DKK 3,335m, which is in line with expectations at the beginning of 2025. Net interest income has gone down as anticipated, as a result of the effect of lower interest rates. The decline in net interest income was offset by an impressive 7% increase in other core income, which reflects a higher level of activity. Trading income came in at DKK 127m and remains at a satisfactory level. Costs (core earnings) have grown from DKK 1,659m to DKK 1,765m – primarily as a result of the acquisition of Coop Bank and collectively agreed pay rises. In addition, in the first six months of the year, shares amounting to DKK 490m were repurchased under the current share buyback programme of DKK 1,350m.
H1 2025 highlights
Outlook for 2025
Additional information
Jørn Adam Møller, Deputy Group Chief Executive, Tel +45 74 37 20 30
Lars Grubak Lohff, Press Officer Tel +45 20 31 54 65
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