Upward adjustment of expectations for 2021 and expectations for 2022
To Nasdaq OMX Copenhagen
19 January 2022
Announcement no. 01/2022
Upward adjustment of expectations for 2021 and expectations for 2022
As a result of a positive development in the BANK of Greenlands’ activities in the fourth quarter of 2021, the bank is raising its 2021-expectations to profit before tax to approx. DKK 158 million.
The revised expectations are based on a satisfactory development in core operations, positive value adjustments and low write-downs.
Most recently, in company announcement no. 16/2021 on 19 October 2021, the bank upgraded its annual expectations of the profit before tax for 2021 in the range of DKK 135 – 150 million.
The annual report for 2021 will be published on 2 March 2022.
As regards the expectations for 2022, the BANK of Greenland hereby announce an expectation for the profit before tax in the range of DKK 120-140 million in 2022, where the peak of the interval is based on normalized exchange rate adjustments and write-downs without significant reversal of Covid-19 write-downs. The bottom of the range reflects a situation with significant price losses on securities.
Please direct any questions to:
Martin Kviesgaard
Managing Director
Tel. no.: +299 34 7802 /e-mail: mbk@banken.gl
Kind regards,
The BANK of Greenland
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