Very acceptable profit and development

Nasdaq Copenhagen A/S                   Skjern, 9 February 2023

Nikolaj Plads 6

1007 København K

Annoncement 1/2023

Very acceptable profit and development

• Profit before tax of DKK 191.1 million

• Equity yielded interest of 15.0 % before tax

• Core earnings of DKK 233.6 million, compared with DKK 175.6 million in 2021

• Exchange rate adjustments of DKK -30.8 million compared with DKK 20.2 million in 2021

• Net interest and fee income increased by 21.7 % to DKK 463.7 million

• Impairment of DKK 2.7 million including increase in management estimate of DKK 20 million to DKK 70 million

• Lending increased by 15.8 % and amounts to DKK 5,464 million and deposits increased by 11.6 % and amount to DKK 7,840

• Satisfactory capital ratio of 23.1 % and individual solvency requirements of 9.8 %

• Proposal of DKK 3 per share, corresponding to 19.2 % of profit after tax for the year

• Profit before tax for 2023 is expected to be in the range of DKK 210 – 250 million

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 +45 21 73 30 04.

Attachment

• SKJEUK-2022-12-31