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Sydbank expects lower FY'18 profit

Danish lender Sydbank A/S said it expects its after-tax profit for full year 2018 to be between 1.15 billion and 1.23 billion kroner, lower than a previous guidance of between 1.25 billionand 1.33 billion kroner.

The bank said market developments are expected to lead to losses in its investment portfolios and lower-than-usual trading income in the fourth quarter.

For full year 2017, Sydbank's group profit was to 1.53 billion kroner.

As of Dec. 20, US$1 was equivalent to 6.54 Danish kroner.