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Jutlander Bank upgrades FY'19 profit estimate

Jutlander Bank A/S raised its pretax profit expectations for 2019 to between 385 million Danish kroner and 420 million kroner.

The Danish lender had in July guided for full-year profit of between 360 million kroner and 395 million kroner.

The bank cited strong activity in the mortgage credit area, lower-than-expected depreciation costs and positive value adjustments on its shares and bonds in the first nine months of the year as reasons for the upgrade.

As of Oct. 9, US$1 was equivalent to 6.80 Danish kroner.