vestjyskBANK endorses the new government guarantee scheme
The Danish government has issued a two-year guarantee for all deposits with and
unsecured claims against Danish financial institutions.
vestjyskBANK (incl. Bonusbanken) has today decided to endorse the new guarantee
scheme, which is administered by the Danish banking sector's contingency
association Det Private Beredskab.
As a consequence of the endorsement of the scheme, vestjyskBANK's net interest
income over the next two years will be negatively impacted by DKK 75-85m p.a.
from today's date. Also, additional expenses may be incurred, in case a claim
for payment of deductible and guarantee commission is made, cf. the conditions
of the scheme.
In 2008 vestjyskBANK's participation in the scheme is expected to affect the
Bank's profit before tax negatively by approximately DKK 20m.
In line with the intentions of the new scheme vestjyskBANK's Board of Directors
has decided that no dividends will be distributed over the next two years.
vestjyskBANK
Frank Kristensen
Managing Director
