Announcement no. 17-2009
29 October 2009
Company Announcement
Decision from the Danish Company Appeals Board
Amagerbanken has received the decision of the Danish Company Appeal Board
regarding Amagerbanken's individual solvency requirement. The Appeals Board
has upheld the decision from the Financial Supervisory Authority of 5 October
2009 imposing an individual solvency requirement of 13.6 %
Amagerbanken has noted the decision and will analyze it further. However, the
decision does not change the Bank's plans.
As stated in the company announcement no 15 of 28 October 2009 a part of the
loan impairment charges for the period 1 January to 30 September 2009 would be
a correction of the loan impairment charges made as of 30 June 2009 for approx.
DKK 600m. The impairment charges will be deducted in the solvency adequacy
requirements as accounted in the decision. The Danish Financial Supervisory
Authority has confirmed this by letter of 29 October 2009, pursuant to which the
applicable imposed individual solvency requirement is 11.3 %.
Amagerbanken notes that this solvency requirement will be met by the completion
of the capital plan, as set out in the company announcement no. 16 of 28 October
2009, which is expected to take place before Christmas 2009. Amagerbanken will
apply for an extension of the deadline for the compliance with the imposed
solvency requirement.
A M A G E R B A N K E N
Jørgen Brændstrup
Managing Director
and Chief Executive
Decision from the Danish Company Appeals Board
| Source: Amagerbanken A/S
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