vestjyskBANK’s Quarterly Report for Q1 2011

• Compared to Q1 2010, earnings for Q1 2011 increased, while costs decreased.
• Core earnings before impairment were realised at DKK 118 million, an improvement of 26 percent compared to Q1 2010.
• Profit before extraordinary contribution to the Guarantee Fund for Depositors and Investors (Garantifonden for Indskydere og Investorer) amounted to DKK 44 million.
• Pre-tax profit for Q1 2011 amounted to DKK 9 million, whereas net profit for the period amounted to DKK 6 million.
• Costs decreased by DKK 10 million compared to Q1 2010.
• Impairment of loans and guarantees amounted to DKK 68 million for Q1 2011.
• The solvency ratio was calculated at 13.8 percent.
• The solvency need ratio was calculated at 9.8 percent.
• Expectations for 2011 for core earnings before impairment are maintained at DKK 500 million.
• Expectations for the impairment ratio for 2011 are maintained at 1 percent of loans and guarantees.