Vestjysk Bank upgrades its guidance for 2021

Vestjysk Bank specifies and upgrades its guidance for 2021. The Bank raises its forecast for core earnings net of non-recurring costs relating to the merger with Den Jyske Sparekasse from a profit after tax of about DKK 650-700 million to DKK 725 million. The expected overall profit including non-recurring items after tax is raised from about DKK 950-1,050 million to DKK 1,080 million.

The upgrade is the result of a persistently high level of business activity and non-recurring tax income recognised as a deferred tax asset . The implementation of the merger is still proceeding according to plan.

Vestjysk Bank A/S’ annual report for 2021 is scheduled for release on 10 February 2022.

For 2022 the Bank forecasts a profit before tax in the range of DKK 600 - 650 million.

In connection with Vestjysk Bank’s annual general meeting to be held on 7 March 2022, the Board of Directors will propose that the number of members elected by the shareholders be increased from 9 to 10. All current board members are recommended for re-election, and Gert Jonassen is nominated for election as Deputy Chairman, which means that the existing Deputy Chairman, Niels Fessel is recommended for re-election as an ordinary member of the Board.

Please address any enquiries regarding the present announcement to Jan Ulsø Madsen, CEO, at tel. (+45) 96 63 21 04.

Vestjysk Bank A/S

Kim Duus Jan Ulsø Madsen
Chairman CEO



Vestjysk Bank A/S
Industrivej Syd 13C
7400 Herning
Tel. (+45) 96 63 20 00

CVR no. 34 63 13 28

www.vestjyskbank.dk

Attachment

• CV - Gert R. Jonassen