BankNordik P/F - Company Announcement

BankNordik bids on healthy parts of Amagerbanken

BankNordik has submitted a binding bid on parts of Amagerbanken to the
governmental organisation Finansiel Stabilitet which has put these up for sale. 

The interest for acquiring parts of Amagerbanken is aligned with the strategy
of controlled growth, which has guided the bank's strong development during the
past years. The strategy builds on a close relation to the customers, stringent
credit management, and a constant focus on profitability in all its activities.
Last year, BankNordik acquired nine bank branches in Denmark and three bank
branches in Greenland. 

“We plan to expand our activities in Denmark further. Primarily through organic
growth,  but we are also monitoring opportunities for acquiring attractive
activities that fit our business model. Like the traditional activity in
Amagerbanken, we focus on having a close dialogue with the customers and on
close relations with the local market,” said Janus Petersen, CEO of BankNordik. 

BankNordik's potential investment will be financed partly by current equity and
partly by strengthening the already strong capital base. The bank has therefore
been in contact with a group of institutional investors in this regard. The
institutional investors support the investment case and have offered their
binding commitment to participate in providing hybrid capital to a significant
part of the financing. 

A core solvency of 17 per cent at year-end 2010 places BankNordik as one of the
most solid banks in the Nordics, and the bank has for many years demonstrated
high profitability. 

Because of the nature of the sales process, BankNordik cannot provide further
information on the bid at the moment. Therefore, BankNordik cannot provide
further information on the expected financial, business and organisational
implications of the potential acquisition. However, Finansiel Stabilitet aims
to review the received offers quickly and disclose a decision shortly. 


         For further information:
         Janus Petersen, adm. direktør, telefon +298 230 340