Spar Nord Bank

Earnings Release • Aug 17, 2011

Satisfactory pre-tax profits of DKK 191 million after respectable net customer
influx, lending growth and decline in impairment losses. The leasing business
is the key to solving future liquidity challenges and to strengthening core
capital.

• Net interest income of DKK 796 million and DKK 252 million in net income from
fees, charges and commissions - in line with H1 2010.

• DKK 98 million in market-value adjustments versus DKK 160 million in H1 2010.

• Costs and expenses down 3% (excl. operational car leasing).

• Impairment of loans and advances, etc. down 17% to DKK 191 million - equal to
an impairment ratio of 0.83% p.a.

• Net costs in connection with Amagerbanken, Fjordbank Mors, etc.: DKK 36
million.

• DKK 191 million in pre-tax profits compared with DKK 50 million in H1 2010 -
8.7% p.a. return on equity.

• Bond issues of DKK 1.7 billion in Q2 - liquidity surplus of DKK 3.3 billion.

• Respectable customer inflow - 4,400 new customers (net) in H1.

• 5% growth in bank lending since end-2010 - primarily driven by public
customers.

• Core earnings before impairment are still expected to hover at the DKK
850-1,050 million level for the full year. The projected impairment ratio for
the year has been lowered to a level of 0.75 - 1% compared to the previous 1%.

• Divestment of the leasing business will solve future liquidity challenges and
strengthen the core capital. The process is underway.

Lasse Nyby, Chief Executive Officer, has the following comments on the
financial statements:

• We are experiencing very sound development in the areas we can impact
  ourselves, and, everything considered, we are quite satisfied. We are
  attracting many new customers, we are once more showing that we have a good
  grasp on costs and expenses, and our impairment losses are declining. Clearly,
  the recent months' turbulence on the Danish banking market engenders both
  expenses and challenges - but as our completed bond issues and our decision to
  divest our leasing activities show, these are challenges with which we can
  cope.