Vestjysk Bank A/S
Establishment of capital adequacy requirement, imposition of restricting order and order for plan for re-establishment

Vestjysk Bank A/S 

01.04.2014 15:53

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The Danish FSA           
NASDAQ OMX Copenhagen A/S
The Oslo Stock Exchange  
1 April 2014             

Company announcement:

Establishment of capital adequacy requirement, imposition of restricting order
and order for plan for re-establishment 

The bank's capital challenges were last dealt with in the bank's 2013 annual
report and in company announcement of 3 March 2014. As per 31 March 2014 it has
not been possible to carry through the structural measures to the extent
necessary in order to comply with the capital adequacy requirements under the
new capital adequacy rules of CRD IV. 

Based on its 2013 annual report, Vestjysk Bank has most recently established
the bank's individual capital adequacy requirement at 10.9 as at 31 December
2013. As at 31 March 2014, according to CRD IV, Vestjysk Bank's present capital
adequacy requirement is made up at 10.0, and the bank has therefore notified
the Danish FSA that the bank does not comply with the capital adequacy
requirement. The decline in the solvency ratio reflects, inter alia, that there
are capital elements in the form of additional loan capital that can no longer
be allowed for. The Danish FSA has consequently under section 124(3) of the
Danish Financial Business Act established the bank's individual capital
adequacy requirement at 10.9 and has under section 225(2) of the Danish
Financial Business Act imposed on Vestjysk Bank that the bank must take the
necessary measures in order to comply with this capital adequacy requirement.
The Danish FSA has also in pursuance of section 225(2) of the Danish Financial
Business Act ordered Vestjysk Bank not later than 7 April 2014 to file a plan
for re-establishment to the Danish FSA. The plan for re-establishment must
contain a description of the measures, which Vestjysk Bank will take in order
to bring the actual solvency ratio up above the individual capital adequacy
requirement. 

Also, a restriction order is imposed on the bank as described in the Danish
FSA's decision of 1 April 2014, which is attached to this company announcement. 

Concurrently with the preparation of the plan for re-establishment, the bank
will continue its measures for seeking to improve the solvency ratio. 



Vestjysk Bank A/S

Vagn Thorsager                               Michael Nelander Petersen
chairman of the board                     acting CEO

Any inquiries may be directed to Vagn Thorsager, chairman of the board, tel. 96
63 21 03.
News Source: NASDAQ OMX



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Language:     English
Company:      Vestjysk Bank A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010304500
WKN:          
 
End of Announcement                             DGAP News-Service
 
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