• Core income grew 15% compared with Q1-Q3 2012, climbing to DKK 2,067 million: Net interest income grew 17% and net income from fees, charges and commissions 27%, driven by a greater volume and a higher activity level.
• Costs totalled DKK 1,225 million - 14% up on the same period 2012, but lower than expected after Sparbank’s activities were integrated into Spar Nord in Q4 2012.
• Core earnings before impairment amounted to DKK 841 million, equal to a 16% growth.
• Loan impairment losses totalled DKK 305 million, corresponding to an impairment ratio of 0.95% p.a.
• In Q3 bank lending stabilized at DKK 34.1 billion - continued major capital inflow into pooled schemes and mandate-based investment products resulted in a drop in bank deposits of DKK 0.4 billion to DKK 42.0 billion.
• The Common Equity (Tier 1) ratio was 14.0% (end-2012: 12.1%). The overall solvency ratio
came to 17.4% (end-2012: 15.5%), while the solvency need ratio was 10.1% (end-2012: 10.0%), corresponding to an excess coverage of DKK 3.2 billion.
• The projection of core earnings before impairment of DKK 1,000 - 1,100 million for the full year is maintained, and the projected impairment ratio for the year is maintained at a level of 1.0%.
• Together with the quarterly financial statements, the dividend policy is presented: The future dividend level (2014- ) has been fixed at 33% of the net profits for the year.
