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Djurslands Bank raises expectations for 2016 core earnings

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Djurslands Bank raises expectations for 2016 core earnings

Djurslands Bank A/S said Jan. 27 that it raised its 2016 core earnings outlook to approximately 93 million Danish kroner before impairments, exceeding estimates, as a result of continued growth in its customer base and increased activity on several of its business areas, primarily housing.

The Danish lender initially expected its pre-impairment core earnings for 2016 to be in the upper part of the range of 75 million kroner to 90 million kroner.

Djurslands Bank also estimates its 2016 pretax profit to be roughly 91 million kroner, which is approximately 18 million kroner more than the pretax profit in the year-ago period.

The lender's 2016 annual report will be published Feb. 8.

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