Stock Exchange Announcement 8 - 2007
The Copenhagen Stock Exchange
26 April 2007
Results increased by 16% before and by 21% after tax.
Results before tax come to DKK 117m in Q1 of 2007 compared to DKK 101m in 2006.
These results yield a return on the average capital and reserves of 26.7% per
annum.
• Increase in core earnings of DKK 25m, corresponding to 29%.
• Cost rate improvement from 57.8% to 55.8%.
• Net interest income in core earnings increased by 23%.
• Growth of 18% in business scope: deposits, loans/advances, guarantees and
securities in account, to a level of DKK 71bn.
• Drop in earnings from investment portfolios of DKK 9m.
The Bank is armed for continued growth. Following the recognition of the
results for Q1 of 2007 and the proceeds from the capital increase in April
2007, the solvency ratio is 12.8% and the core capital ratio 8.4% (at 31 March
2007).
These results are highly satisfactory and the Bank retains its core earnings
expectations for all 2007 of DKK 360m.
