Skjern Bank A/S
Unsatisfactory performance and completed annual visit from the Danish Financial Supervisory Authority in January 2015

DGAP-News: Skjern Bank A/S

2015-02-17 / 15:41

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Nasdaq OMX Copenhagen A/S                                     Skjern, 17
February 2015 

Nikolaj Plads 6

1007 Copenhagen K







Stock Exchange Announcement No. 6/2015







*  Profit before tax of DKK -56.7 million compared to DKK 36.2 million in 2013



* Capital ratio of 12.0% and individual capital requirements of 11.9%,
corresponding to 0.1% coverage. Coverage for the 8% requirement amounts to
4.0%, corresponding to DKK 162 million. 



* On 3 February 2015, the bank sold shares in DLR Kredit A/S for DKK 75
million, which in itself increases the bank's capital ratio by 1.67 percentage
points, after which coverage relative to capital requirements can be calculated
at 1.77% 



* Solid liquidity reserves of DKK 757 million, corresponding to 131.0%



* Core earnings of DKK 111.0 million, compared with DKK 99.1 million in 2013



* The Danish Financial Supervisory Authority held a visit in January 2015,
which has resulted in an order to make write-downs in the range of DKK 100
million, which is everything included in the bank's profit for 2014 



* Then there was write-downs amounting to DKK 154.4 million, compared to DKK
67.1 million in 2013 



* Core earnings, calculated as profit before tax, exchange rate adjustments and
write-downs, is expected to be in the range of DKK 115 - 125 million in 2015. 





Best regards,

Skjern Bank





Hans Ladekjær Jeppesen                           Per Munck

Chair of the Board                                    Director







Questions should be directed to the Director Per Munck by phone at 21 73 30 04.
News Source: NASDAQ OMX



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2015-02-17 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English          
Company:     Skjern Bank A/S  
 
 
             Denmark          
ISIN:        DK0010295922     
 
 
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