Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
An update from Sydbank A/S ( (GB:0MGE) ) is now available.
AL Sydbank A/S has chosen Bankdata as its future IT solutions provider, exiting BEC to enhance functionality, finances, and collaboration. This strategic move aims to achieve cost synergies and improve efficiency, supporting the bank’s goal to become Denmark’s preferred corporate and association bank. The decision impacts the bank’s profit forecast for 2025, reducing it due to an early exit fee from BEC, with expected profits now between DKK 1,700-1,900 million, down from DKK 2,400-2,600 million. Merger and integration costs are also adjusted to DKK 1.4-1.9 billion.
More about Sydbank A/S
AL Sydbank A/S operates in the banking industry, focusing on providing IT solutions and financial services. It aims to be Denmark’s Corporate Bank and the preferred bank for associations, with activities extending into Germany.
See more insights into 0MGE stock on TipRanks’ Stock Analysis page.