Djurslands Bank A/S Reports Unaudited Earnings Results for the First Half Ended June 30, 2014; Revises Earnings Guidance for 2014
August 14, 2014
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Djurslands Bank A/S reported unaudited earnings results for the first half ended June 30, 2014. For the period, the company reported net interest and fee income of DKK 143,328,000 compared to DKK 131,812,000 reported a year ago. Profit before tax was DKK 41,702,000 compared to DKK 17,579,000 reported a year ago. Profit was DKK 32,847,000 compared to DKK 11,727,000 reported a year ago. Return on average equity was 10.5%. Basic profit (before price adjustments, write downs and tax) was DKK 46.1 million against DKK 29.5 million a year ago.
Based on the realized result for the first half year of 2014, the expectation at the beginning of the year 2014 is upgraded by 20%. The banks expected a basic profit of DKK 80 million to DKK 95 million before price adjustments, write downs and tax.
Djurslands Bank A/S is a Denmark-based local bank primarily active in the region of Jutland. The Bank is engaged in the provision of banking products and financial services to private customers, small and medium-sized enterprises (SMEs), as well as to public institutions. Its product and service offering includes loans, mortgage, pension funds, insurance, financing, currency exchange, payment services and investment advisory services. The Bank also offers access to the online banking facilities, such as NetBank, for private customers and NetBank Erhverv, for corporate customers. Djurslands Bank A/S is active through its head office in Grenaa and local branches in Oersted, Vivild, Allingaabro, Auning, Ryomgaard, Kolind, Roende, Ebeltoft, Hornslet, Lystrup, Risskov, Tilst, Aarhus and Tranbjerg. Djurslands Bank A/S has one wholly owned subsidiary, Djurs-Invest ApS.
DJURSLANDS BANK A/S 
