Key Figures

Overview of selected key financial data
(DKK million)

INCOME STATEMENT	Q4	Q3	Q2	Q1	2011
Net interest and fee income	204.7	244.4	194.1	246.7	889.9
Market value adjustments	-34.6	-402.3	-239.2	5.5	-670.6
Other operating income	17.0	16.9	17.0	18.5	69.4
Profit on net financial operations	187.1	-141.0	-28.1	270.7	288.7
Expenses and depreciation	114.9	111.6	182.1	154.2	562.8
Writedowns of loans and receivables etc.	435.0	205.4	180.6	171.3	992.3
Profit from investments in associates and group enterprises	0.3	0.0	0.0	0.0	0.3
Profit before tax	-362.5	-458.0	-390.8	-54.8	-1,266.1
Tax	-77.3	-4.0	-29.9	23.2	-88.0
Profit after tax	-285.2	-454.0	-360.9	-78.0	-1,178.1
BALANCE SHEET	Q4	Q3	Q2	Q1	2011
Total assets	84,157	86,009	81,484	91,273	84,157
Loans	42,833	48,398	52,192	54,770	42,833
Total equity	7,166	7,451	7,905	8,266	7,166
KEY RATIOS	Q4	Q3	Q2	Q1	2011
Return on equity before tax p.a.	-16.3	-15,3	-11.0	-2.6	-16.3
Return on equity after tax p.a.	-15.2	-15,1	-10.8	-3.8	-15.2
Solvency ratio, per cent	17.8	16,8	16.2	15.9	17.8
Solvency ratio, core capital	15.6	14,9	14.5	14.3	15.6

INCOME STATEMENT	Q4	Q3	Q2	Q1	2010
Net interest and fee income	229.5	384.4	415.8	363.4	1,393.1
Market value adjustments	886.3	324.8	121.7	306.2	1,639.0
Other operating income	18.2	19.0	26.4	20.6	84.2
Profit on net financial operations	1,134.0	728.2	563.9	690.2	3,116.3
Expenses and depreciation	158.6	232.3	252.7	233.7	877.3
Writedowns of loans and receivables etc.	1,205.0	368.2	188.5	160.9	1,922.6
Profit from investments in associates and group enterprises	-1.0	2.7	-0.6	-1.2	-0.1
Profit before tax	-230.6	130.4	122.1	294.4	316.3
Tax	-253.3	-68.2	19.3	93.9	-208.3
Profit after tax	22.7	198.6	102.8	200.5	524.6
BALANCE SHEET	Q4	Q3	Q2	Q1	2010
Total assets	109,338	110,400	124,961	127,979	109,338
Loans	57,994	59,801	61,115	62,840	57,994
Total equity	8,334	8,322	8,123	8,020	8,334
KEY RATIOS	Q4	Q3	Q2	Q1	2010
Return on equity before tax p.a.	3.9	9.0	10.5	14.9	3.9
Return on equity after tax p.a.	6.5	8.3	7.6	10.1	6.5
Solvency ratio, per cent	15.4	15.2	15.0	14.4	15.4
Solvency ratio, core capital	13.3	12.9	12.6	12.1	13.3

INCOME STATEMENT	Q4	Q3	Q2	Q1	2009
Net interest and fee income	369.2	389.7	399.2	277.5	1,435.6
Market value adjustments	105.1	115.5	165.7	124.4	510.7
Other operating income	30.9	21.4	27.5	28.8	108.6
Profit on net financial operations	505.2	526.6	592.4	430.7	2,054.9
Expenses and depreciation	238.0	212.7	232.2	334.4	1,017.3
Writedowns of loans and receivables etc.	222.2	122.6	382.9	449.3	1,177.0
Profit from investments in associates and group enterprises	0.0	0.1	-1.2	-7.3	-8.4
Profit before tax	45.0	191.4	-23.9	-360.3	-147.8
Tax	-132.9	67.0	-29.7	-63.7	-159.3
Profit after tax	177.9	124.4	5.8	-296.6	11.5
BALANCE SHEET	Q4	Q3	Q2	Q1	2009
Total assets	130,156	120,236	136,436	126,765	130,156
Loans	64,134	66,180	68,318	69,239	64,134
Total equity	7,820	7,642	7,517	7,516	7,820
KEY RATIOS	Q4	Q3	Q2	Q1	2009
Return on equity before tax p.a.	-1.9	-3.3	-10.0	-18.8	-1,9
Return on equity after tax p.a.	0.1	-2.9	-7.6	-15.5	0.1
Solvency ratio, per cent	13.8	14.1	13.8	11.7	13.8
Solvency ratio, core capital	11.4	11.5	11.1	8.6	11.4

INCOME STATEMENT	Q4	Q3	Q2	Q1	2008
Net interest and fee income	355.0	396.2	373.1	385.7	1,510.0
Market value adjustments	-17.7	-46.2	32.9	-22.5	-53.5
Other operating income	25.8	26.4	19.5	24.1	95.7
Profit on net financial operations	363.1	376.4	425.5	387.3	1,552.1
Expenses and depreciation	294.1	189.1	195.2	189.2	867.6
Writedowns of loans and receivables etc.	423.7	43.0	40.9	-13.2	494.4
Profit from investments in associates and group enterprises	-14.8	14.7	9.8	7.9	17.6
Profit before tax	-369.5	159.0	199.2	219.2	207.9
Tax	-83.0	49.8	34.2	22.9	23.9
Profit after tax	-286.5	109.2	165.0	196.3	184
BALANCE SHEET	Q4	Q3	Q2	Q1	2008
Total assets	122,125	109,448	113,920	105,908	122,125
Loans	72,615	73,983	76,058	76,970	72,615
Total equity	7,809	8,096	7,989	7,823	7,809
KEY RATIOS	Q4	Q3	Q2	Q1	2008
Return on equity before tax p.a.	2.7	9.7	10.6	11.2	2.7
Return on equity after tax p.a.	2.4	7.9	9.2	10.1	2.4
Solvency ratio, per cent	11.9	12.1	11.9	11.1	11.9
Solvency ratio, core capital	8.8	9.1	8.9	8.2	8.8

INCOME STATEMENT	Q4	Q3	Q2	Q1	2007
Net interest and fee income	339.5	428.4	313.4	303.7	1,384.9
Market value adjustments	36.5	30.8	230.0	212.6	510.0
Other operating income	22.3	22.3	19.9	21.4	85.9
Profit on net financial operations	398.3	481.5	563.3	537.7	1,980.8
Expenses and depreciation	218.3	206.5	160.8	155.8	741.4
Writedowns of loans and receivables etc.	-22.0	12.6	-14.2	4.2	-19.4
Profit from investments in associates and group enterprises	0.0	15.0	-2.8	5.2	17.4
Profit before tax	202.0	277.4	413.9	382.9	1,276.2
Tax	-34.7	35.2	43.2	109.3	153.0
Profit after tax	236.7	242.2	370.7	273.6	1,123.2
BALANCE SHEET	Q4	Q3	Q2	Q1	2007
Total assets	113,357	105,848	112,913	107,046	113,357
Loans	75,015	74,942	71,462	69,989	75,015
Total equity	7,777	7,566	7,296	6,927	7,777
KEY RATIOS	Q4	Q3	Q2	Q1	2007
Return on equity before tax p.a.	17.6	20.2	21.9	22.5	17.6
Return on equity after tax p.a.	15.5	16.6	17.8	16.1	15.5
Solvency ratio, per cent	11.5	11.3	11.5	11.3	11.5
Solvency ratio, core capital	8.4	8.2	8.3	7.9	8.4

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