Vestjysk Bank A/S
Quarterly Report for Q1 2011

Vestjysk Bank A/S 

03.05.2011 08:30
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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.
News Source: NASDAQ OMX



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Language:     English
Company:      Vestjysk Bank A/S
              
               
              Norway
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         NO0010331499
WKN:          
 
End of Announcement                             DGAP News-Service
 
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