VJBA Vestjysk Bank A/S

Suspension of full-year 2020 profit guidance of Vestjysk Banks A/S

Suspension of full-year 2020 profit guidance of Vestjysk Banks A/S

The Danish Financial Supervisory Authority

Nasdaq Copenhagen A/S





25 March 2020





Suspension of full-year 2020 profit guidance of Vestjysk Banks A/S

As a result of developments in the COVID-19 situation in Denmark and abroad, Vestjysk Bank has decided to temporarily suspend its full-year 2020 profit guidance.

It is not possible at this time to assess the economic impact of the various government measures that are being implemented in an effort to contain the spread of the virus, and it is consequently not possible to assess what impact this will have on the Bank, either. We consider it probable that the Bank’s impairment of loans, etc. will be higher than originally forecast, but the level of such impairment is difficult to quantify at present.

The Bank’s total capital and liquidity remain solid, with significant excess coverage relative to the regulatory requirements. This means that we are in a position to offer our customers support at this difficult time.

The Bank’s core earnings developed as projected in the first two months of 2020.

Vestjysk Bank's interim report for the first quarter will be released on 13 May. We are postponing our 2020 profit guidance until that date.

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





Vestjysk Bank A/S





Jan Ulsø Madsen

CEO







Vestjysk Bank A/S

Torvet 4-5

7620 Lemvig

Denmark

Phone



CVR no. 34631328







EN
25/03/2020

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