IT collaboration between Bankdata and Jyske Bank

IT collaboration between Bankdata and Jyske Bank

- Doubling of the available development resources of Bankdata                   
- Synergies of around DKK 300m from 2013.                                       

The significance of the use of IT within the banking sector is constantly       
growing. Today many systems are made readily available to clients via           
miscellaneous self-service solutions: netbanks, card services, ATMs etc.        
Moreover IT systems providing internal support to banks contribute to ensuring  
valuable and effective customer service etc.                                    

To ensure long-term competitiveness within this area a framework agreement has  
been concluded between Bankdata in Fredericia and Jyske Bank.                   

According to the agreement, which has been concluded subject to the approval of 
the relevant authorities, Jyske Bank will become a member of Bankdata and will  
start using the IT systems developed by Bankdata. As a result Bankdata will be  
the continuing development centre of all the member banks.                      

As a consequence of the agreement, Anders Dam, CEO, Jyske Bank, will join the   
chairmanship of the Board of Directors of Bankdata. The chairmanship comprises  
Bent Naur, CEO, Ringkjøbing Landbobank (Chairman), Karen Frøsig, CEO, Sydbank   
and Anders Dam, CEO, Jyske Bank (Vice-                                          
Chairmen).                                                                      

The executives of Bankdata remain unchanged: Ove Vestergaard, Managing Director,
and Lene Weldum, Director.                                                      

Schedule                                                                        

It has been agreed that Jyske Bank will start using Bankdata's systems in 2012. 
Until then the systems of Bankdata will be developed to meet the particular     
demands of Jyske Bank at the time of transition. To guarantee this Jyske Bank   
will as soon as possible make available more than 100 systems developers for the
systems development at Bankdata.                                                

Background                                                                      

Today Bankdata has 14 member banks: Alm. Brand Bank, Djurslands Bank, Aarhus    
Lokalbank, Kreditbanken, Nordfyns Bank, Nordjyske Bank, Nørresundby Bank,       
Ringkjøbing Landbobank, Skjern Bank, Sparekassen Sjælland, Sydbank, Tønder Bank,
Vestfyns Bank and Østjydsk Bank. Sydbank is currently the largest Bankdata      
member.                                                                         
The policy behind systems development at Bankdata is that all banks use the same
systems - "several banks, one system". This policy provides the basis for       
realising economies of scale associated with systems development and it will be 
continued after Jyske Bank joins Bankdata.                                      

After the entry of Jyske Bank into the collaboration, total assets behind       
Bankdata will be increased by around two thirds and Bankdata will emerge as the 
biggest of the IT centres providing services to Danish banks. Bankdata's systems
development will take place in Jutland at addresses in Fredericia and Silkeborg,
respectively. The entry of Jyske Bank into the collaboration creates the basis  
for significantly increasing the systems development resources whose agreed     
objective is to double the available systems development resources.             

Effect                                                                          

The entry of Jyske Bank into Bankdata holds an overall potential of around DKK  
300m p.a. For all the banks involved - current Bankdata banks and Jyske Bank -  
this constitutes a possibility to lower IT costs while at the same time         
increasing the efforts aimed at joint systems development.                      

As a result of the agreement Bankdata will be among the biggest units in terms  
of development within the financial institutions market. Consequently a firm    
basis has been created to ensure that the banks involved can in future combine  
modern and flexible systems to customers and employees with relatively low IT   
costs.                                                                          

It is the aim and a condition of the realisation of the full potential of the   
agreement that the operations of Bankdata be carried out by JN Data in          
Silkeborg, the operations centre presently used by Jyske Bank. It is expected   
that a framework agreement in this respect will be concluded in the near future.


Yours sincerely                                                                 


Anders Dam      Bent Naur     Karen Frøsig                                      


If you have any questions please contact                                        

CEO Anders Dam, Jyske Bank                                                      
CEO Bent Naur, Ringkjøbing Landbobank                                           
CEO Karen Frøsig, Sydbank