Sydbank's 2007 core earnings outlook has been raised from around DKK
2,100-2,300m to DKK 2,350-2,500m.
The upward adjustment is based on discussions with the Danish Financial
Supervisory Authority (FSA) about the Group's use of in particular the concept
of objective evidence of impairment in relation to individually assessed loans
and advances. An adjustment of the individual impairment is expected to entail
an additional reversal of impairment of loans and advances of around DKK 250m.
The adjustment, which relates to Q3 2007, will have a positive effect on the
profit after tax of slightly below DKK 200m and a comparable impact on
shareholders' equity (Tier 1). The final adjustments will be announced in the
Group's 2007 Annual Results scheduled for 29 January 2008.
Sydbank's 2007 Annual Report is scheduled for 19 February 2008.
Yours faithfully
Mogens Asmund
Group Executive Vice President
