Vestjysk Bank A/S : Upward adjustment and clarifying of Vestjysk Bank's expectations for 2020

The Danish Financial Supervisory Authority

Nasdaq Copenhagen A/S


14 July 2020

Upward adjustment and clarifying of Vestjysk Bank's expectations for 2020

Based on the preliminary consequences of the Corona situation, Vestjysk Bank issued per. 13 May 2020 a new expectation for the result after tax for 2020. At this time, the bank expected a result after tax in the order of DKK 160 to 240 mill.

In the second quarter of 2020, the financial markets have had a positive development, and this has meant that the result from the bank's own trading portfolio has had a positive development during the period. Likewise, the positive development in the bank's write downs on especially agricultural customers, continued through the second quarter of 2020, based on continued favorable settlement prices for agricultural products.

Overall, this means that Vestjysk Bank now expects a profit after tax in the order of DKK 200 to 260 mill. for the whole of 2020.

Vestjysk Bank's half year report will be released on 19^th of August.

Enquiries
Please address any enquiries regarding the present announcement to Jan Ulsø Madsen, CEO, at tel. [phone].

Vestjysk Bank A/S

Kim Duus                                       Jan Ulsø Madsen
Chairman                                       CEO



Vestjysk Bank A/S
Torvet 4-5
7620 Lemvig
Tel. [phone]

CVR no. 34 63 13 28

www.vestjyskbank.dk

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