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BankNordik: Q1 2021 results broadly in line with our expectations - Nordea

Q1 2021 profit before loan losses came in at DKK 38m, which was DKK 2m (5%) ahead of our estimate. Other income was DKK 3m above our estimate, offsetting the DKK 1m (2%) miss on net interest income. BankNordik reiterated its 2021 net profit guidance of DKK 150-200m. We estimate DKK 200m. Furthermore, BankNordik repeated its intention to distribute DKK 450m (DKK ~47 per share) in extra-ordinary dividends during 2021 and DKK 250m (DKK ~26 per share) in 2022/23, following the sale of its Danish activities

Q1 2021 profit before loan losses came in at DKK 38m, which was DKK 2m (5%) ahead of our estimate. Other income was DKK 3m above our estimate, offsetting the DKK 1m (2%) miss on net interest income. BankNordik reiterated its 2021 net profit guidance of DKK 150-200m. We estimate DKK 200m. Furthermore, BankNordik repeated its intention to distribute DKK 450m (DKK ~47 per share) in extra-ordinary dividends during 2021 and DKK 250m (DKK ~26 per share) in 2022/23, following the sale of its Danish activities
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