Straumur-Burdaras Investment Bank hf. 2007 annual results Consolidated profit after tax EUR 162.9m Chief annual results for 2007 * Profit after tax totalled EUR 162.9m in 2007, as opposed to EUR 515.4m in 2006. * Operating income totalled EUR 330.0m in 2007, down 37.5% from 2006. * Net interest income amounted to EUR 68.8m in 2007, representing 20.9% of operating income and up 61.8% from the previous year. * Net fee and commission income was EUR 131.3m in 2007, representing 39.8% of operating income and an increase of 55.5% from the previous year. * Net financial income decreased from EUR 392.3m in 2006 to EUR 111.4m in 2007. * Operating expenses totalled EUR 118.9m for 2007 compared with EUR 44.1 for 2006. * The cost income ratio for the year was 36.0%. * Earnings per share in 2007 were EUR 0,017 compared with EUR 0,051 in 2006. * Return on equity in 2007 was 11.3% as opposed to 42.0% in 2006. * Total assets amounted to EUR 7,136.9m at 31 December 2007, compared with EUR 4,357.8m at 31 December 2006. * Assets under management totalled EUR 1,7bn at 31 December 2007. * The CAD ratio was 23.7% at the year-end 2007. The Tier 1 capital was 21.4%. * Straumur has no direct or indirect exposure to sub-prime loans, collateral debt obligations, asset backed securities, structured investment vehicles, conduits and monoline insurance. Chief results for the fourth quarter of 2007 * There was a loss after tax of EUR 0.6m in the fourth quarter, compared with a profit of EUR 276.7m for the same period in 2006. * Operating income amounted to EUR 56.5m in the fourth quarter, down 72.7% on the fourth quarter 2006. * Net interest income amounted to EUR 23.0m in the fourth quarter, compared with EUR 6.8m in the fourth quarter 2006. * Net fee and commission income rose by 44.1% year-on-year and amounted to EUR 36.8m in the fourth quarter of 2007. * Net financial income was a net loss of EUR 4.4m in the fourth quarter, compared with EUR 165.3m for same period in the previous year. William Fall, CEO of Straumur"The year 2007 has been a transformational year for Straumur. We have extended the international reach of the Group and developed from being an Icelandic company with operations almost exclusively based in Iceland to an Icelandic company that has taken its place in the international market with a broader and deeper product and client bases. Despite exceptionally difficult market conditions for the second half of the year we reported a satisfactory profit for 2007 and ended the year with a strong capital and liquidity position. The journey to create the leading investment bank in Northern and Central Europe continues with increasing contribution from client-driven activities in an increasingly diverse footprint" Further information can be obtained from: Stephen Jack CFO stephen.jack@straumur.net +44 7885 997570 Georg Andersen Director of Investor Relations georg@straumur.net +354 858 6707
Straumur-Burdaras Investment Bank hf. 2007 annual results
| Source: Straumur-Burðarás Fjárfestingabanki hf.