Vestjysk Bank A/S
vestjyskBANK’s Quarterly Report for Q1-Q3 2012

Vestjysk Bank A/S 

07.11.2012 08:30
---------------------------------------------------------------------------

The Danish Financial Supervisory Authority
NASDAQ OMX Copenhagen
London Stock Exchange
Oslo Børs


7 November 2012


vestjyskBANK's Quarterly Report for Q1-Q3 2012

Summary of vestjyskBANK's results for Q1-Q3 2012:

  -- Unsatisfactory result before tax of DKK -710 million (DKK 29 million in
     Q1-Q3 2011)
  -- Core income of DKK 939 million (DKK 776 million in Q1-Q3 2011)
  -- Rate of cost, including impairment of goodwill, of 79.3 percent (63.1
     percent in Q1-Q3 2011). Excluding impairment of goodwill, the rate of cost
     equals 57.2 percent.
  -- Core earnings before impairments of DKK 194 million (DKK 287 million in
     Q1-Q3 2011)
  -- Impairments of loans and receivables etc. of DKK 904 million (DKK 258
     million in Q1-Q3 2011)
  -- Targeted effort to reduce deposit deficit. Deposit deficit stood at DKK 4.0
     billion at end of September 2012. Over the course of one year, the Bank has
     managed to cut the deposit deficit in half.
  -- Solvency ratio of 13.8 percent, core capital ratio of 8.2 percent and
     excess cover in relation to statutory liquidity requirements of 135.2
     percent at end September 2012
  -- Outlook for fiscal year 2012:
     -- Core earnings at around DKK 500 million before impairments, termination
        benefits and costs related to Aarhus Lokalbank merger
     -- Rate of cost at 55 percent before impairments, termination benefits and
        costs related to Aarhus Lokalbank merger
     -- Impairments and provisions for loans and guarantees at around DKK 1,050
        million
  -- vestjyskBANK's general strategy - To preserve vestjyskBANK's status as an
     independent and major bank in Denmark by:
     -- maintaining relatively high core earnings levels by optimising revenues
        and focusing on cost reduction,
     -- continuing the controlled balance-sheet adjustment,
     -- facilitating tight credit management, and 
     -- attaining a funding structure independent of government guarantees.


The merger between vestjyskBANK and Aarhus Lokalbank was executed on 30 March
2012 with vestjyskBANK as the continuing company. The results for Aarhus
Lokalbank have been recognised in vestjyskBANK's Statement of Income as at 1
April 2012, and its assets and liabilities have been recognised as at the end
of March 2012. The numbers for Aarhus Lokalbank have not been included in the
2011 comparative figures. 



vestjyskBANK

Vagn Thorsager
CEO

vth@vestjyskbank.dk

Vestjysk Bank A/S
Torvet 4-5
DK-7620 Lemvig
Denmark
Phone +45 96 63 20 00

CVR no. 34631328
www.vestjyskbank.dk
News Source: NASDAQ OMX



07.11.2012 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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