The Board of Directors of SPARBANK A/S has on this day considered and adopted
the Quarterly Report for Q1 - Q3 2008.
SPARBANK returned a loss before tax of DKK -47.3m against a profit of DKK
177.8m in Q1 - Q3 2007. This corresponds to a return on equity of -3.8%.
The profit before write-downs and market value adjustments was DKK 185.4m
against DKK 163.0m the year before.
SPARBANK's liquidity is satisfactory. The liquidity surplus cover relative to
the statutory minimum requirements is 80.4%, corresponding to a surplus cover
of DKK 1.7bn. At the end of Q3 2007, the surplus cover was 25.8%, corresponding
to a surplus cover of DKK 0.5bn.
SPARBANK's solvency exceeds the statutory minimum requirement of 8%. As at 30
September 2008, the solvency ratio was 11.1%.
Due to a declining level of investment, developments in market value
adjustments and increasing write-downs, core earnings - the result of the
actual banking operations - for 2008 as a whole, are expected to be in the
range of DKK 30-60m against a previously announced outlook of DKK140-160m.
