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

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.

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associated documents


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
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
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