VESTJYSK BANK Suspension Of Full-year 2020 Profit Guidance Of Vestjysk Banks A/S
25 Marzo 2020 - 01:50PM
UK Regulatory
TIDMVJBA
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. +45 96 93 21 04
Vestjysk Bank A/S
Jan Ulsø Madsen
CEO
Vestjysk Bank A/S
Torvet 4-5
7620 Lemvig
Denmark
Phone +45 96 63 20 00
CVR no. 34631328
www.vestjyskbank.dk
(END) Dow Jones Newswires
March 25, 2020 08:50 ET (12:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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