Highlights for Q1 2022
For Q1 2022,
The financial performance was affected by the increasing interest rate level in the market. The increasing interest rates had a negative impact on the market value of the Bank’s own portfolio of bonds, and price adjustments affected profit adversely by
The Bank's write-downs for the period were not significantly affected by the aftermath of the Corona pandemic, Brexit or the risk of further spread of African swine fever. The same applies in relation to the current situation of the war in
The Bank continues to assess that there are significant risks in relation to the economic development, and in Q1 2022 the Bank increased its management add-ons in relation to impairment by
The Bank’s highlights for Q1 2022 (the figures in brackets are comparative figures for Q1 2021 adjusted for non-recurring items resulting from the merger with
- Profit before tax amounts to
DKK 99m (DKK 105m in Q1 2021) - Return on equity amounts to 7.4% p.a. before tax (9.3 % p.a. in Q1 2021)
- Core income amounts to
DKK 326m (DKK 364m in Q1 2021) - Price adjustments amount to a negative
DKK 58m (a positiveDKK 32m in Q1 2021) - Cost ratio amounts to
DKK 75.3m (DKK 65.4m in Q1 2021) - Core earnings before impairment allowances amount to
DKK 80m (DKK 126m in Q1 2021) - Net reversals of impairment of loans and receivables, etc. amount to
DKK 19m (in Q1 2021 impairment amounted toDKK 22m ) - The Bank’s capital ratio amounts to 20.9 (21.1 in Q1 2021). The excess is 8.2 percentage points, equivalent to
DKK 1,927m .
Outlook for 2022
In connection with the annual report for 2021, the Bank announced expectations for a profit before tax in the range of
The situation with war in
Enquiries
Please address any enquiries regarding the present announcement to Jan Ulsø Madsen, CEO, at tel. (+45) 96 63 21 04.
Chairman CEO
Industrivej Syd 13C
7400 Herning
Tel. (+45) 96 63 20 00
CVR no. 34 63 13 28
www.vestjyskbank.dk
Attachment
- Vestjysk Banks Quarterly Report Q1 2022
© OMX, source