- Pre-tax profit for 2010 amounted to DKK 10 million, whereas net profit for the year amounted to DKK 6 million.
- Profit before expenses relating to the Private Contingency Association amounted to DKK 158 million.
- Core earnings before impairment were realised at DKK 491 million, 11 percent higher than in 2009.
- Net interest and fee income increased by 4 percent compared to 2009.
- Costs decreased by 5 percent compared to 2009.
- Impairments declined by 26 percent compared to 2009.
- The impairment ratio was calculated at 1.39 percent.
- Expenses relating to the Private Contingency Association amounted to DKK 148 million.
- The Bank only has few large commitments.
- The solvency ratio was calculated at 13.7 percent.
- Excess cover in relation to statutory liquidity requirements equalled 127 percent.
- The Bank remains within all value limits of the Supervisory Diamond.
- Expectations for 2011 for core earnings before impairment and expenses for the Danish Guarantee Fund for Depositors and Investors are set at DKK 500 million.
- Return on equity for 2011 is expected to land at 10 percent before tax.
vestjyskBANK
Frank Kristensen
Chief Executive Officer
