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Best year in the history of the Bank

Nasdaq Copenhagen A/S               Skjern, 7 February 2024

Nikolaj Plads 6

1007 København K

Announcement 1/2024

Best year in the history of the Bank

  • Profit before tax increased by 80 % to of DKK 344.1 million compared with DKK 191.1 million in 2022

  • Equity yielded interest of 24.0 % before tax

  • Core earnings increased by 44 % to DKK 335.9 million, compared with DKK 233.6 million in 2022

  • Exchange rate adjustments of DKK 47.2 million compared with DKK -30.8 million in 2022

  • Net interest and fee income increased by 28.0 % to DKK 593.5 million

  • Impairment of DKK 27.6 million including increase in the management estimate of DKK 30 million to DKK 100 million

  • Lending increased by 23.1 % and amounts to DKK 6,726 million and deposits increased by 5.7 % and amount to DKK 8,284

  • Capital ratio of 22.8 % and individual solvency requirements of 10.1 %

  • Proposal of DKK 5 per share, corresponding to DKK 48 million or 18.7 % of profit after tax for the year

  • Profit before tax for 2024 is expected to be in the range of DKK 270 – 300 million

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Kind regards

Skjern Bank

Hans Ladekjær Jeppesen               Per Munck

Chairman of the Board                  Director

Questions should be directed to Director Per Munck by phone at 21 73 30 04.

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