Børsens News Service in English
Positive results for Eik
10-08-2010
18:28
Eik Banki Group is retaining positive expectations for the year on the strength of positive half yearly results. The Faeroese-Danish banking concern said it expects solid core earnings, lower depreciation and higher income from interest and fees, though continued market uncertainty means it has not increased its 2010 expectations.
While pre-tax losses in the first half of 2010 amounted to DKK 1.4 million, profit after tax adjustments amounted to a profit of DKK three million.. The bank lost DKK 87.1 million in the first half of 2009. Net interest income rose from DKK 245.6 million in the first half of 2009 to DKK 308.2 million in the first half of the current year. Net fees and commission income rose from DKK 57.1 million to DKK 62.8 million. Total consolidated solvency has increased by 2.5 percentage points in Q2 2010 compared to Q1.
“The Faeroe Islands as well as the Danish economy are showing signs of moderate growth and Eik Banki Group expects a positive result for 2010” the bank said in a statement issued today. “However, the general uncertainty in the world economy is a significant risk factor for the economies where bank operates”
"Despite the challenges as the year 2010 has to offer, we expect to see positive results this year", CEO Marner Jacobsen said in the statement
While pre-tax losses in the first half of 2010 amounted to DKK 1.4 million, profit after tax adjustments amounted to a profit of DKK three million.. The bank lost DKK 87.1 million in the first half of 2009. Net interest income rose from DKK 245.6 million in the first half of 2009 to DKK 308.2 million in the first half of the current year. Net fees and commission income rose from DKK 57.1 million to DKK 62.8 million. Total consolidated solvency has increased by 2.5 percentage points in Q2 2010 compared to Q1.
“The Faeroe Islands as well as the Danish economy are showing signs of moderate growth and Eik Banki Group expects a positive result for 2010” the bank said in a statement issued today. “However, the general uncertainty in the world economy is a significant risk factor for the economies where bank operates”
"Despite the challenges as the year 2010 has to offer, we expect to see positive results this year", CEO Marner Jacobsen said in the statement
*****||***** Positive results for Eik*****||*****Eik Banki Group is retaining positive expectations for the year on the strength of positive half yearly results. The Faeroese-Danish banking concern said it expects solid core earnings, lower depreciation and higher income from interest and fees, though continued market uncertainty means it has not increased its 2010 expectations.*****||*****
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