The Board of Directors of SPARBANK A/S has decided to move forward the
publication of the interim report for H1 2008 to today.
SPARBANK's profit before tax was DKK 98.7m against DKK 136.3m in H1 2007. This
corresponds to a re-turn on equity before tax of 11.8%.
The profit before write-downs of loans and receivables etc. and market value
adjustments was DKK 115.9m against DKK 102.3m the year before.
Core earnings - the result of the actual banking operations - totalled DKK
88.0m against DKK 102.6m the year before.
SPARBANK's liquidity is satisfactory. The liquidity surplus cover relative to
the statutory minimum require-ments is 121.1%, corresponding to a surplus cover
of DKK 2.3bn. At the end of H1 2007, the surplus cover was 18.3%, corresponding
to a surplus cover of DKK 0.3bn. In June, SPARBANK took out a syndicated loan
of DKK 858m.
As indicated by the bank in connection with the publication of its 2007 annual
report, the bank still expects core earnings - the result of the actual banking
operations - for 2008 as a whole to be in the region of DKK 140-160m.
