Interim Report H1 2014
In May and June 2014, FIH entered into agreements with Spar Nord Bank A/S and Nykredit Bank A/S to divest the lending activities of FIH. The divestment to Spar Nord was completed on 1 July 2014, and the divestment to Nykredit is expected to be completed on 1 September 2014.
Following the divestments, FIH has revised its business strategy, meaning, among other things, that the bank ceases to acquire new customers and provide new loans, while at the same time further reducing activities in the Markets business area, including a complete phasing-out of a number of functions. Activities in the Corporate Finance and FIH Direct Bank business areas will continue unchanged.
Profit before tax for H1 2014 was DKK 117.3 million (H1 2013: 133.2 million). As the transactions with Spar Nord and Nykredit were not completed in H1, they have not affected the results for the period directly; for instance, goodwill from said transactions have not been recognised.
Equity amounts to DKK 5,766 million as of 30 June 2014 (year-end 2013: 5,677million).
The solvency and core capital ratio came to 30.3 per cent (year-end 2013: 25.9 per cent), and the capital buffer was 15.8 percentage points (year-end 2013: 11.6 percentage points).
FIH has a liquidity surplus of 139 per cent relative to the regulatory requirements (year-end 2013: 221 per cent).
FIH complies with all five benchmarks of the Supervisory Diamond.
- Financial Report for 2013 -
5 February 2014
- Annual General Meeting 2014 -
6 March 2014
- Interim Report Q1 2014 -
13 May 2014
- Interim Report H1 2014 -
28 August 2014
- Interim Report Q1-Q3 2014 -
5 November 2014