Correction of announcement no. from 001 to 002 in the attached file
Announcement No. 02-2008
6 February 2008
Preliminary announcement of Annual Report 2007
Today, Amagerbanken's Board of Directors approved the group report 2007. The
Board of Directors finds that the result is still very satisfactory.
The following may be pointed out:
Core income of DKK 1,148m against DKK 929m in 2006 - an increase of 23.6%
Cost ratio of 49.4% against 53.5% in 2006
Core earnings before impairment losses on loans and advances amounted to DKK
581m - an increase of 34.4%
Impairment losses on loans and advances, etc. amounted to DKK 18m, equal to 0.1%
p.a. of lending activities
Core earnings amounted to DKK 562m against DKK 469m in 2006, an increase of
19.7% which is considerably better than expected and historically high
Value adjustments, etc. amounted to minus DKK 68m against DKK 190m in 2006. In
2006 a profit of sale of Totakredit of DKK 47m was included. Value adjustments
can furthermore be ascribed to the trend in the Bank's ownership in Jeudan in
which the Bank in 2006 achieved an unrealized profit of DKK 62m against an
unrealized loss of DKK 60m
Pre-tax profit amounted to DKK 494m corresponding to a return on opening
sharesholders' equity of 24.3% p.a.
The net profit for the year amounted to DKK 393m.
The volume of business - deposits, loans and advances and guarantees - rose by
22.6% compared to 2006
The Bank's solvency ratio is 12.5% of which core capital amounts to 8.2%
Proposal of dividend for DKK 7.80 per share
Continuous positive expectations to 2008 in spite of a more dampened economic
development
Yours faithfully,
A M A G E R B A N K E N
Knud Christensen
Managing Director and
Chief Executive
Questions to this report may be addressed to Mr. Knud Christensen, Managing
Director and Chief Executive by phone no. +45 32 66 60 00 - best after 14.00
p.m.
CORRECTION: 002-2008 - Amagerbanken - Preliminary Announcement Annual Report 2007
| Source: Amagerbanken A/S
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