Alm. Brand Bank A/S - Interim Report H1 2007


Alm. Brand Bank - Interim report for the first half of 2007
The first half at a glance
• Satisfactory H1 profit before tax of DKK 110 million, against DKK 81 million
for the first half of 2006. 

• Value adjustments amounted to a gain of DKK 25 million, against a loss of DKK
3 million in H1 2006. Value adjustments lifted by equity investments and
negatively impacted by fixed income investments. 

• Total costs amounted to DKK 258 million. The high cost level was due to
substantial investments in growth in all business areas. 

• Net increase of 34% in loans and advances relative to H1 2006. Growth was
attributable, among other things, to continued success in providing loans for
project funding and to investment customers. In addition, the bank has seen an
increase in business resulting from the Alm. Brand Group's dobbeltKUNDE
concept. At the same time, the bank expanded its business operations to include
lending to SMEs. 

• Profit supported by very low losses on loans and advances and a resulting DKK
42 million reversal of writedowns. 

• Net interest and fee income was DKK 297 million in H1 2007, a 17% improvement
relative to H1 2006. 

• The income/cost ratio climbed from DKK 1.44 in H1 2006 to DKK 1.50 in H1 2007.

Overview
•	Loans and advances stood at DKK 16.3 billion at 30 June 2007.

•	Equity stood at DKK 1.3 million at 30 June 2007.

•	The annualised return on equity for H1 2007 was 18% before tax.

•	Full-year profit forecast of DKK 190 million before tax.

Please direct any questions regarding this announcement to Henrik Nordam, Chief
Executive, on tel. +45 35 47 48 49. 



Please find enclosed the interim report for the first half of 2007.



Yours sincerely
Alm. Brand Bank A/S
Henrik Nordam	
Chief Executive

Attachments

bank interim report h1 2007 - uk.pdf bank16-2007-uk.pdf