2009 full-year figures: 12% growth in operating profit and robust balance sheet in a turbulent year

Press release 4 March 2010

  • Operating profit 12% higher at €21.0 million (2008: €18.8 million)
  • Total profit €24.6 million (2008: €39.9 million negative), reflecting capital gains on investments and no impairment charges on loan portfolio
  • Total income up 6%; operating income stable, helped by active interest-rate and investment policy
  • Expenses in 2009 down around 3% compared with 2008
  • Year-end 2009 BIS ratio 24% (2008: 18%) and Tier 1 ratio 21% (2008: 15%); risk-weighted assets over 20% lower, reflecting active risk management
  • Visible equity 15% higher at €193 million
  • Total dividend €0.73 (2008: €0.45), in line with external financial targets, equating to 61% of the operating profit less intangible assets relating to recent acquisition in Germany.

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