The Danish Financial Supervisory Authority
NASDAQ OMX Copenhagen
Oslo Børs
18 October 2013
The media coverage of Vestjysk Bank A/S
In the light of the Danish news media coverage, Vestjysk Bank A/S hereby wishes to announce that the bank is investigating the possibilities of initiating structural measures with the aim of contributing towards a long term solution to the bank’s capital base challenges.
As it appears from the bank’s half-yearly report as of 30 June 2013, the bank’s solvency ratio is very low. Even after completing the initiated conversion of government hybrid core capital, which strengthens the capital ratio by approximately 1 percentage point, the solvency buffer will – as also mentioned in the half-yearly report - remain relatively low and below the management's ambitions.
The bank’s investigations are conducted in dialogue with the Danish State as the controlling shareholder. The bank’s own financial advisor is assisting the bank in this exercise.
The bank's investigations are still in progress, and no decision has yet been taken as to whether, and, if so, which initiatives, the bank may choose to pursue. Vestjysk Bank A/S will inform the market in due course.
vestjyskBANK
Steen Hemmingsen Vagn Thorsager
Chairman CEO
Vestjysk Bank A/S
Torvet 4-5
DK-7620 Lemvig
Denmark
Phone +45 96 63 20 00
CVR no. 34631328
www.vestjyskbank.dk
