Sydbank has decided to record additional impairment charges of around DKK 300 million –DKK 350 million for its retail client loans. The bank has previously announced that impairment charges are projected to stand at around DKK 1.4 billion in 2012. In view of the decision to convert the solvency reservations to impairment charges, impairment charges are now projected to represent around DKK 1,750 million for 2012.

As a consequence of the increased impairment charges, which are charged to the Bank's interim financial statements for the fourth quarter of 2012, a profit before tax of around DKK 600 million is expected, provided that no events occur in the final days of the year which significantly change the Bank's investment portfolio earnings.