Forstædernes Bank A/S
Preliminary Announcement of Financial Statements for 2009

Forstædernes Bank A/S / 

11.02.2010 12:53

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

---------------------------------------------------------------------------

The Board of Directors of Forstædernes Bank A/S has approved the Bank's Annual
Report for 2009. 
The Annual Report has been submitted to NASDAQ OMX Copenhagen A/S and is also
available on Forstædernes 
Bank's website at forbank.dk. For further information, please refer to the
Annual Report. 
Financial highlights
 Core earnings from business operations, before costs relating to the
government guarantee scheme 
and impairment losses, came to DKK 183m in 2009 against DKK 225m in 2008.
 Impairment losses for 2009 were DKK 5,346m against DKK 1,534m in 2008.
 The investment portfolio generated an income of DKK 163m compared with a loss
of DKK 500m in 
2008. Core income from securities was negative in the amount of DKK 8m against
an income of DKK 
232m in 2008.
 Forstædernes Bank recorded a loss after tax of DKK 3,861m compared with DKK
1,227m in 2008. 
Liquidity and capital structure
 Excess cover relative to the statutory 10% liquidity requirement was 224% at
end-2009, or DKK 
7.5bn.
 The Bank received additional capital from Nykredit Realkredit A/S in the
amount of DKK 2,954m in 
2009. Moreover, subordinate loan capital of a nominal amount of DKK 600m was
redeemed prematurely. 
 Equity stood at DKK 2,147m, and the core capital ratio was 11.2% against
10.5% in 2008. 
 The individual capital need was 14.1% at end-2009, and the capital adequacy
ratio was 15.7% 
against 15.5% at end-2008.
Expected merger between Forstædernes Bank A/S and Nykredit Realkredit A/S
The Boards of Directors of Nykredit Bank A/S and Forstædernes Bank A/S have
decided to propose a 
merger of the two companies with Nykredit Bank A/S as the surviving company.
Nykredit Bank A/S and 
Forstædernes Bank A/S are expected to merge at 1 April 2010, effective 1
January 2010 for accounting 
purposes. The merger is subject to approval by the Danish Financial Supervisory
Authority. 
Contacts
Peter Engberg Jensen, Chairman, Nykredit - tel +45 44 55 14 70
Niels Fessel, Managing Director - tel +45 44 55 30 05

News Source: NASDAQ OMX



11.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Forstædernes Bank A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010017011
WKN:          
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------