Sydbank reported a first-half net profit of DKK 1.8 billion, up from DKK 1.2 billion in the same period of 2025, as core income surged 78% to DKK 5.92 billion.
The Danish bank’s return on tangible equity reached 13.3%, while impairment charges on loans and advances totaled DKK 151 million. Loans and advances grew 2.4% to DKK 143.7 billion, and customer deposits rose by DKK 10.1 billion to DKK 219.4 billion during the six months.
Core earnings before impairment charges increased 54% year-over-year to DKK 2.62 billion, while total costs climbed to DKK 3.49 billion from DKK 1.77 billion a year earlier. Trading income rose to DKK 185 million, up from DKK 127 million in H1 2025. The bank’s common equity tier 1 ratio stood at 16.0% at the end of June, compared with 15.8% at year-end 2025.
Sydbank achieved DKK 175 million in cost synergies during the period as part of its integration efforts, which included the merger of 52 branches in Denmark to reduce the network to 88 domestic branches and three in Germany. The bank is transitioning its technological platform to Bankdata, with the process scheduled for completion in 2027.
For the full year, Sydbank revised its profit outlook to the top half of its prior DKK 3.5–4.0 billion after-tax range, citing progress in integration but warning that macroeconomic uncertainty, interest rate shifts, and financial market volatility could affect results.
