In 2007 the Sydbank Group generated a highly satisfactory pre-tax profit of DKK
2,257m, equalling a 35% return on average shareholders' equity (Tier 1).
The income statement for 2007 is characterised by:
• 11% increase in core income excl trading income
• 13% rise in trading income
• Growth in costs of 8%
• Income recognition of DKK 568m concerning impairment of loans and advances
• Loss on investment portfolios of DKK 193m
• Gain on sale of non-current assets of DKK 55m.
Core earnings of DKK 2,395m are within the most recent expectations announced
on 11 December 2007.
Profit after tax makes up DKK 1,710m against DKK 1,514m in 2006, equal to a
return of 26% on average shareholders' equity (Tier 1). Earnings per share has
gone up by 16%. Profit after tax is the best in the Group's history.
The Group projects core earnings before impairment of loans and advances in the
region of DKK 1,600-1,900m in 2008.
In early 2008 Sydbank will acquire bankTrelleborg. The acquisition is expected
to contribute approx DKK 40m to the Group's profit before tax in 2008.
The following proposals will be put before the AGM scheduled for 28 February
2008: that a dividend of DKK 3 per share be distributed and DKK 20m be
allocated to the sponsorship fund, "Sydbank Sønderjyllands Fond".
Sydbank's 2007 Annual Report is scheduled for 19 February 2008.
Yours faithfully
Carsten Andersen
Group Chief Executive
Enquiries concerning this announcement to
Carsten Andersen, Group Chief Executive, tel +45 74 36 20 00
Mogens Asmund, Group Executive Vice President, tel +45 74 36 20 50
