The Danish Financial Supervisory Authority,
NASDAQ OMX Copenhagen,
London Stock Exchange,
Oslo Børs
11 August 2011
vestjyskBANK’s financial results for the first half of 2011
- Fourth consecutive profitable quarter
- Core earnings before impairment on loans improved by DKK 7m compared with the first half of 2010
- DKK 73m profit before extraordinary contribution to the Guarantee Fund for Depositors
- Pre-tax profit of DKK 21m and profit after tax of DKK 14m
- Net interest and fee revenue increased by 3 per cent in compared with the first half of 2010
- Costs on level with the first half of 2010
- Impairment of loans and guarantees amounted to DKK 157m, compared with DKK 214m in the first half of 2010
- Solvency ratio of 13.9
- Solvency requirement ratio of 9.8
- Expectations for this year’s core earnings before impairments remain at DKK 500m
- Initiated activities in order to strengthen liquidity and secure the long-term funding
- Expectations for this year’s impairment ratio for the year remain at around 1 per cent; but there is uncertainty in light of the general economic climate
veststjyskBANK
Frank Kristensen
Chief Executive Officer
