The profit on ordinary activities was DKr 100.4m (DKr 71.8m in 2008), producing
a return on shareholders' equity of 16.0 per cent. The profit before price
adjustments and write-downs was DKr. 111.7m. Expenses rose by DKr. 19.4m, of
which slightly more than half of the increase can be ascribed to increase in the
bank's payments of commissions to the Danish Sector Fund. Write-downs amounted
to 0.50 per cent of the bank's loans and guarantees.
The liquidity at the BANK of Greenland is excellent with its liquidity adequacy
in relation to the legal requirements of 161.7 per cent as well as the excess of
deposits continues to be significant. In 2009, the bank expects profits before
price adjustments and write-downs to remain at the same level as in 2009.
