Stock Exchange Announcement, No. 1 - 2008 - Contact person Ole Madsen +45 96 34
40 21
Spar Nord Bank's Annual Report 2007
Spar Nord Bank wrapped up its financial year 2007 with DKK 833 million in
pre-tax profits. This profit performance yields a 24% return on the beginning
equity, which Management considers satisfactory.
Core earnings before impairment grew 4% to DKK 703 million in a year when Spar
Nord generated satisfactory growth in the business volume, e.g. as a result of
the continued geographical expansion. In 2007, five new local banks were
established outside North Jutland, viz. in Slagelse, Køge, Ikast, Randers and
Esbjerg.
Other highlights from the Annual Report:
• Net interest income up 14% to DKK 1,150 million
• Net income from fees, charges and commissions up 3% to DKK 483 million
• Core income up 8% to DKK 1,989 million
• Costs increased 11%
• DKK 111 million recognized as income (net) on the accounting
item, ‘Impairment of loans and advances, etc'.
• Earnings from investment portfolios ended at DKK 19 million
• Net inflow of more than 10,000 customers
• Lending up 19%, and a 20% hike in deposits.
Core earnings before impairment are expected to hover around the DKK 675-775
million level for 2008.
Annual General Meeting
The Supervisory Board recommends to the Annual General Meeting to be held on 30
April that an unchanged dividend of DKK 3 be paid for 2007 per share of DKK 10.
Three members are to be elected to the Supervisory Board at the Annual General
Meeting. Torben Fristrup, Carsten Normann and Niels Kristian Kirketerp are up
for re-election. The Supervisory Board recommends their re-election.
Please direct any enquiries you may have to Lasse Nyby, Chief Executive
Officer, who can be reached on tel.+45 9634 4011. For more details, please
refer to the full Annual Report.
Sincerely yours,
Spar Nord
Ole Madsen
Communications Manager
