With a view to the agreement entered into between the Danish State and the
financial sector (Det Private Beredskab), FIH has, authorised by the Board of
Directors, decided to join the agreement. The committed contribution by the FIH
Group will amount to DKK 632.6 million over two years. In addition, FIH may be
faced with additional obligations, provided the excess clause related to the
agreement sets out and the guarantee commission is increased. In total, the FIH
Group commitments are considered not to exceed DKK 1.5 billion over the two
years of the agreement.
Following the significant economic turbulence in Iceland and suspension of
trading in Icelandic bank shares, it is important to note that FIH
Erhvervs-bank has the status of a Danish bank and operates under the Danish
Finan-cial Supervisory Authorities, and is “ring fenced” in relation to the
Kaupthing Group.
The status is that FIH Erhvervsbank has no outstandings with Icelandic
fi-nancial institutions, among these the Kaupthing Group or other Icelandic
businesses. Moreover, FIH Erhvervsbank has no outstandings with Icelandic
companies, which have acquired companies in Denmark. Finally, FIH Erh-vervsbank
has no mutual engagements with any Icelandic banks.
FIH Erhvervsbank plans to announce its Q3 results as previously stated on 30
October 2008.
Copenhagen, Tuesday 7 October 2008 at 12:30pm
Lars Johansen
Managing Director
FIH Erhvervsbank A/S
For additional information please contact Managing Director Lars Johansen at
+45 7222 5000.
