H1 2011 in headlines
- Earnings expectations for 2011 before market value adjustments, impairment losses and tax are expected to remain in the range of DKK 80-100m. We must, however, point out that the Bank’s share of expenses for bank bankruptcies is not included therein.
- Loss after tax of DKK 60.3m.
- Total loss and contribution of DKK 14.7m due to Amagerbanken and Fjordbank Mors having gone bankrupt.
- Negative market value adjustments of DKK 8.6m.
- Impairment losses of DKK 79.2m.
- The level of total impairment losses for FY 2011 remains uncertain.
- Total business volume calculated as the total amount of loans and advances, deposits, guarantees and custody account volume amount to DKK 14.4bn.
- Excess coverage of 167.9% relative to the statutory liquidity requirement.
- Solvency ratio of 13.8% against calculated solvency need of 11.3%.
- The implementation of the Bank’s Plan 2013 in relation to the upcoming expiry of the Danish government guarantee scheme progresses positively.
Stock Exchange Announcement No. 12/2011
