First quarter 2007 - highlights
- 33% increase in core earnings to DKK 141 million
- 22% increase in profit before tax to DKK 137 million
- 35% pre-tax return on equity at beginning of period
- 5% improvement in rate of costs to 32.7% - the best in Denmark
- Good credit quality resulting in reversal of net DKK 17 million in write-downs
- Continuing strong increase in business - loans up by 24% and deposits up by
14%
- Cancellation of 40,000 own shares initiated, equivalent to a 0.8% reduction
in the share capital
- New capital adequacy rules strengthen capital adequacy - Tier 2 now 15.1%
