OMX Den Nordiske Børs København
Nikolaj Plads 6
Postbox 1040
1007 København K
Announcement no. 23-2008
6. October 2008
Amagerbanken joins the new government-backed deposit guarantee scheme
The Danish Government has issued a two-year guarantee for all loans and
unsecured claims against Danish financial institutions. According to an
agreement with the banking sector, it will be managed and financed by Det
Private Beredskab (the Banking Sector Emergency Fund).
Today, Amagerbanken decided to confirm its membership of the Banking Sector
Emergency Fund. Accordingly, the Bank will contribute to and be covered by the
new government-backed deposit guarantee scheme, which will be operative for two
years as from 6 October 2008.
Amagerbanken's share of the annual guarantee commission of DKK 7.5 billion is
expected to amount to DKK 100 - 125 million. To this should be added a share of
the total guarantee limit, plus any increased guarantee commission (cf. the
terms of the agreement), of DKK 150 - 175 million out of a total limit of DKK 20
billion. In 2008, Amagerbanken's participation in the guarantee scheme is
expected to have a negative impact on the Bank's pre-tax profit of DKK 25 - 30
million.
Yours faithfully
A M A G ER B A N K E N
Jørgen Brændstrup
CEO
023-2008-Amagerbanken - Amagerbanken joins the new government-backed deposit guarantee scheme
| Source: Amagerbanken A/S
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