BankNordik: Follows suit with a guidance upgrade - ABG

FY net profit guidance lifted 9-11% to DKK 210-240m (190-220m)
Strong NII and asset quality offset headwind on insurance inc.
We expect a positive stock reaction today based on the upgrade


Net profit guidance lifted 9-11% to DKK 210-240m

BankNordik has lifted its net profit guidance for the full year 2023 to a range of DKK 210-240m (previously DKK 190-220m) driven by the higher interest rate environment as well as lower-than-expected loan losses due to a maintained robustness among its customers. This leads us to believe that loan losses will be very minor in Q1. In addition, BankNordik notes that the guidance upgrade comes despite lower-than-expected insurance income in Q1 due to higher claims related to the stormy weather in February.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/banknordik/Equity-research/2023/4/banknordik---follows-suit-with-a-guidance-upgrade/