0OGV Groenlandsbanken A/s

Downward revision of expectations to profit before tax

To Nasdaq OMX Copenhagen

19 October 2022Company announcement no. 16/2022

Downward revision of expectations to profit before tax

The BANK of Greenland revises its expectations downwards for the year 2022 to a profit before tax result of DKK 90 - 120 million from an earlier announced level of DKK 120 - 140 million.

The revised downward expectations are due to negative value adjustments caused by the development in the bond market.

The BANK’s core operations follow expectations and there is a continued high customer activity. Depreciations are also in line with expectations.

Best regardsThe BANK of Greenland

Martin KviesgaardGeneral ManagerContact: +299 34 78 02, mail: mbk@banken.gl

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• 16.Nedjustering før Q3_UK