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Core Income up 35%

Core Income up 35%. Presentation 5 August 2009 - Interim Report H1 2009 Janus Petersen, CEO. A strong and satisfying result in H1 2009. Good result in line with projections. Strong position for consolidation of the banking sector. 05.08.09. 2. Profit driven by growing core earnings.

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Core Income up 35%

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  1. Core Income up 35% Presentation 5 August 2009 - Interim Report H1 2009 Janus Petersen, CEO

  2. A strong and satisfying result in H1 2009 Good result in line with projections. Strong position for consolidation of the banking sector 05.08.09 2

  3. Profit driven by growing core earnings • Positive core developments in challenging times • Strong interest income, net • Stable fee income • Strong insurance income • Decreasing administrative cost 05 August 2009 3

  4. Businessvolumesare stable andloans sufficiently funded • Stable developments in challenging times • Stable loans • Stable Deposits and due to creditinst. 05 August 2009 4

  5. Solid earnings - a result of increasedNII • Interest Income increased by 2% • Interest Expenses decreased by 27% • Net Interest Income increased by 33% from the same period last year * Figures are not consolidated nor in accordance with IFRS 05 August 2009 5

  6. Asset quality - a good platform for further profitable growth in income Total loans Corporate loans 05 August 2009 6

  7. The asset quality in the loan book is reflected in the relatively low level of impairments * Figures are not consolidated nor in accordance with IFRS 05 August 2009 7

  8. Impairment charges on loans and advances • Impairment mainly in Corporate Sector • Concentrated in the Fishing, Trade and Hotel and construction sectors 05 August 2009 8

  9. Keeping cost below50% of income 05 August 2009 9

  10. Well positioned for consolidation • Limited growth potential in Faroe Islands • Opportunities for expansion on the Danish market • Applied for Hybrid Core Capital • Risk diversification • Higher shareholder value 05 August 2009 10

  11. Core Income up 35% Presentation 5 August 2009 - Interim Report H1 2009 Janus Petersen, CEO and Johnny í Grótinum, IR

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