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BRIEF-BankNordik Q4 net result swings to profit of DKK 20.5 mln
February 27, 2017 / 7:16 AM / 10 months ago

BRIEF-BankNordik Q4 net result swings to profit of DKK 20.5 mln

Feb 27 (Reuters) - BankNordik P/F:

* Q4 net interest income 100 million Norwegian crowns ($12 million) versus 111 million crowns year ago

* Q4 loan losses 10.3 million crowns versus loan losses 26.1 million crowns year ago

* Q4 net profit 20.5 million crowns versus loss 308.0 million crowns year ago

* Expects a modest increase in private and corporate lending volumes in 2017

* Expects profit before impairment charges, value adjustments and tax to be in range of 150 million Danish crowns-190 million crowns in 2017 (2016: 179 million crowns)

* Impairment charges on loans and advances, including a reversal of acquired oei impairments, are estimated to be less than 20 million crowns in 2017 (2016: reversal of 12 millon crowns)

* Fee and commission income is also expected to increase modestly in 2017, whereas income from investment portfolio is expected to be close to 2016 level

* 2017 operating costs are expected to stay flat compared to 2016

* Board will propose a total dividend payment of 300 million crowns for 2016 (30 crowns per share) Source text for Eikon:

Further company coverage: ($1 = 8.3661 Norwegian crowns) (Gdynia Newsroom)

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