Interim Report for the period 1 January - 30 June 2008 for Spar Nord Bank

Interim Report for the period 
1 January - 30 June 2008 
for Spar Nord Bank

Pre-tax profit of DKK 340 million - the forecast for this year's core earnings
maintained 

•	Annualized 17% return on equity before tax
•	Net interest income up 21% to DKK 658 million (YOY)
•	Net income from fees, charges and commissions down 22% to DKK 201 million
         (YOY)
•	Market-value adjustments down 37% to DKK 48 million
•	Rise in costs at the budgeted level of 10%
•	Core earnings before impairment down 10% to DKK 318 million
•	Losses and impairment of loans and advances ended at a round zero
•	DKK 22 million earnings from investment portfolios, incl. the sale of
         Totalkredit 
•	Bank lending up 14% and deposits up 26% (YOY)
•	Robust solvency ratio of 11.9%
•	Excess coverage relative to strategic liquidity target improved, now standing 
         at DKK 2.3 billion
•	Moody's rating unchanged: C, A1, P-1 (outlook stable)

Developments in Q2 2008
•	Core earnings before impairment up 30% (QOQ) to DKK 180 million
•	Net interest income DKK 33 million up on Q1 2008
•	Net income from fees, charges and commissions down DKK 7 million on Q1
•	DKK 8.3 million in losses and impairment
•	Sustained strong credit quality. Property lending amounts to only 11.7% of
         the entire loan portfolio
•	Bank lending up 2% and deposits up 5% (QOQ)
•	14th consecutive quarterly period with net growth in customers