Q1 report 2013
In the first quarter of 2013, FIH achieved a net profit within continued as well as discontinued operations. This was the strongest result for the last 10 quarters. Thus, FIH can once again focus on servicing the core segment of Danish corporates.
The liquidity is sound with solid excess liquidity in spite of repayments of government guaranteed debt as well as subordinated debt during the first quarter. FIH has secured sufficient liquidity to repay the remaining government guaranteed bonds that mature in June 2013.
FIH’s continuing operations (Banking, Markets and Corporate Finance) realized a profit of DKK 51 million before loan impairment charges and taxation in Q1 2013 (Q1 2012: DKK 172 million). The net profit for continuing operations was realized at DKK 16 million (Q1 2012: negative by DKK 3 million).
Equity totals DKK 5,548 million (year-end 2012: DKK 5,477 million). The Tier 1 Capital Ratio is 20.2 per cent (end-2012: 18.2 per cent) and the Total Capital Ratio is 22.5 per cent (end-2012: 21.2 per cent). The solvency buffer has increased to 8.0 percentage points.
FIH will host a conference call regarding Q1 2013 result on Wednesday 8 May 2013 at 15:00 CET (2:00 pm UK). Please call before 15:00 CET to allow a short registration.
A presentation of the Q1 2013 result is available here.
Conference dial-in details:
DK participants dial: +45 3272 8018
UK participants dial: +44 1452 555 131
US participants dial: +1 8666 828 490
International participants dial: +44 1452 555 131: