Sydbank — Report Publication Announcement 2012

Feb 22, 2012

News Details

UK Regulatory | 22 February 2012 08:25

Announcement of the 2011 Financial Statements

Sydbank A/S / Annual Financial Report

22.02.2012 08:25

Dissemination of a UK Regulatory Announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Aabenraa, Denmark, 2012-02-22 08:25 CET (GLOBE NEWSWIRE) --
Summary

The Sydbank Group has recorded a profit before tax for 2011 of DKK 301m
equalling a return of 3.1% on average shareholders' equity. The result is below
the expectations at the beginning of the year. Intensified financial turbulence
led to overall worsened business conditions. The result is unsatisfactory
whereas the development of core income excl trading income is satisfactory.

• Slight rise in core income excl trading income.
• Market-related decline in trading income.
• Slight reduction of costs (core earnings).
• 14.6% decline in impairment charges for loans and advances.
• Loss on investment portfolios of DKK 15m.
• Non-recurring items, net of minus DKK 171m.
• Contribution to the Deposit Guarantee Fund etc of DKK 102m.
• Q4 2011: profit before tax of DKK 95m.
• 5.7% reduction in bank loans and advances to DKK 68.8bn.
• 3.9% rise in deposits to DKK 66.7bn.
• Increase in core capital ratio to 15.2%.
• Good liquidity.
• Substantial influx of clients.
• Dividend to shareholders for 2011 will not be recommended.

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Language: English
Company: Sydbank A/S

                Dänemark

Phone:
Fax:
E-mail:
Internet:
ISIN: DK0010311471
Category Code: ACS
LSE Ticker: 0G6U
Sequence Number: 994
Time of Receipt: Feb 22, 2012 08:25:07

End of Announcement DGAP News-Service

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