DGAP-Regulatory: Increase of Sydbank's solvency need

 DGAP-Regulatory: Increase of Sydbank's solvency need  Sydbank A/S  / Miscellaneous  31.01.2014 09:05  Dissemination of a Regulatory Announcement, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------------   Aabenraa, Denmark, 2014-01-31 09:04 CET (GLOBE NEWSWIRE) -- Sydbank has received the Danish FSA statement on the inspection of the credit area etc conducted in November and December 2013.   The inspection showed - as previously disclosed - a need for Sydbank to increase its impairment charges for credit exposures and to increase its solvency need.   The increase of the impairment charges has been implemented and is within the expected total level of impairment charges for 2013 as announced in Sydbank's Company Announcement No 16/2013 of 5 December 2013, which concerns the same inspection.   The Bank's solvency need at 30 September 2013 has been changed from 9.5% to 10.4%. The increase was prompted by the assessment that the Bank's governance was not acceptable for a bank of Sydbank's size and that special credit risks in respect of weak exposures had not been taken into account. Sydbank's actual solvency ratio represented 16.9% at 30 September 2013.   The Danish FSA has ordered the Bank to improve conditions within the mentioned areas. Sydbank has already implemented measures to improve the conditions as pointed out by the Danish FSA.  Click on, or paste the following link into your web browser, to view the associated documents  https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmen tId=457911  News Source: NASDAQ OMX    31.01.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de  ---------------------------------------------------------------------------   Language:           English Company:            Sydbank A/S                                                                Denmark Phone:               Fax:                 E-mail:              Internet:            ISIN:               DK0010311471 Category Code:      MSC TIDM:               0G6U Sequence Number:    1869 Time of Receipt:    Jan 31, 2014 09:04:56   End of Announcement                             DGAP News-Service   ---------------------------------------------------------------------------