Skjern Bank

Earnings Release • Jan 30, 2020

Especially satisfactory results

Especially satisfactory results

Nasdaq OMX Copenhagen A/S                Skjern 30 January 2020

Nikolaj Plads 6

1007 København K

Annoncement 2/2020

• Profits before tax of DKK 165 million of which are extraordinary capital gains of DKK 21 million relating to sale of shares in Sparinvest Holdings SE

• Equity yielded interest of 17.3 % before tax and 15.0 % excluding extraordinary capital gains

• Core earnings amounted to DKK 146 million

• Net interest and fee income increased by 8.5 % to DKK 334 million

• Impairment reduced to DKK 17 million, corresponding to 0.2 % of loans and guarantees

• Loans amounted to DKK 4,326 million and deposits amounted to DKK 6,224 million

• Satisfactory capital ratio of 18.6 % and individual solvency requirements of 9.6 %

• Core profit in 2020 is expected to be in the range of DKK 125 – 140 million

Kind regards

Skjern Bank

Hans Ladekjær Jeppesen    Per Munck

Chairman of the Board       Director

Questions should be directed to Director Per Munck by phone at 21 73 30 04.

Attachment

• 02_2020 Annual report 2019