The BankNordik Group’s original guidance announced at the beginning of the year called for a net profit in the DKK 100 million to DKK 150 million range. Due to the impact of the COVID-19 situation and the uncertainty caused hereof, BankNordik reassessed the Group’s financial guidance for 2020 and on April 27 2020 announced a lowered financial guidance expecting net profit in the range of DKK 30 million to DKK 80 million for 2020. Mainly due to higher loan impairments, a loss on the investment portfolio and travel insurance claims paid out. Based on a review of the Group’s financial guidance for 2020 BankNordik on June 24 2020 announced a raised financial guidance expecting net profit in the range of DKK 50 million to DKK 90 million. The impact of COVID-19 situation on the Group’s financial results has so far been more alleviated than expected. Therefore BankNordik has made a new reassessment of the Group’s financial guidance for 2020 and now expects net profit in the range of DKK 80 million to DKK 120 million. The upwards revision is primarily related to reversal of impairment charges. The Group’s raised net profit guidance for the year 2020 is based on expectations for the future and are thus subject to uncertainty.