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Vestjysk Bank raises outlook on 2016 core earnings, pretax profit

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Vestjysk Bank raises outlook on 2016 core earnings, pretax profit

Vestjysk Bank A/S expects that its 2016 core earnings before impairment will amount to between 490 million Danish kroner and 510 million kroner, exceeding earlier guidance thanks to more positive developments in the fourth quarter than originally anticipated.

The lender earlier expected pre-impairment core earnings for 2016 to reach between 400 million kroner and 450 million kroner.

Vestjysk Bank, which will release its full-year 2016 earnings report Feb. 23, estimates that its 2016 pretax profit will amount to between 65 million kroner and 85 million kroner, having previously expected it to be at the same level as in 2015, when it amounted to 50 million kroner.

As of Jan. 27, US$1 was equivalent to 6.95 Danish kroner.