Equity ratio =
Risk-weighted assets
(Profit after tax - minority interests before tax) x 100 2
Shareholders' equity at beginning of year + shareholders' equity at year-end Tier 1 capital after deductions
Average shareholders' equity
(Profit after tax - minority interests after tax) x 100 Average shareholders' equity
Deposits and other payables Loans and advances + Impairment losses
Loans and advances Costs Interest rate risk
Tier 1 capital including hybrid Tier 1 capital less deduction Exchange rate indicator 1
Tier 1 capital including hybrid Tier 1 capital less deduction Exchange rate indicator 2
Tier 1 capital including hybrid Tier 1 capital less deduction Loans, advances and other receivables at fair value + Loans, advances and other receivables at amortised cost
Capital base Risk-weighted assets
Tier 1 capital including hybrid Tier 1 capital less deduction Risk-weighted assets
Interest receivable Interest payable Average interest-bearing assets Average interest-bearing liabilities
Interest margin =
Income/cost ratio
=
Loans and advances =
= Solvency ratio
Average shareholders' equity
Return on equity before tax
= = Tier 1 ratio = = = = Income
Gearing of loans and advances Foreign exchange position
= =
=
Interest rate risk Return on equity after tax
Foreign exchange risk
financial ratios
DEFINITIONS OF RATIOS
Equity ratio =
Risk-weighted assets
(Profit after tax - minority interests before tax) x 100 2
Shareholders' equity at beginning of year + shareholders' equity at year-end Tier 1 capital after deductions
Average shareholders' equity
(Profit after tax - minority interests after tax) x 100 Average shareholders' equity
Deposits and other payables Loans and advances + Impairment losses
Loans and advances Shareholders' equity
Costs Interest rate risk
Tier 1 capital including hybrid Tier 1 capital less deduction Exchange rate indicator 1
Tier 1 capital including hybrid Tier 1 capital less deduction Exchange rate indicator 2
Tier 1 capital including hybrid Tier 1 capital less deduction Loans, advances and other receivables at fair value + Loans, advances and other receivables at amortised cost
Capital base Risk-weighted assets
Tier 1 capital including hybrid Tier 1 capital less deduction Risk-weighted assets
Interest receivable Interest payable Average interest-bearing assets Average interest-bearing liabilities
Interest margin =
Income/cost ratio
=
Loans and advances =
= Solvency ratio
Average shareholders' equity
Return on equity before tax
= = Tier 1 ratio = = = = Income
Gearing of loans and advances Foreign exchange position
= =
=
Interest rate risk Return on equity after tax
Foreign exchange risk
Loans and advances as a percentage of deposits
DEFINITIONS OF RATIOS
Return in excess of the money market rate =
The calculation of average equity takes into account capital increases where capital increases are included at a proportionate share relative to the date of the change. Shares held by minority interests are not included in the calculation of average equity.
Excess cover relative to statutory liquidity requirement = Annual growth in lending =
Total amount of large exposures =
Share of receivables at reduced interest rate =
Capital base
Impairment ratio for the year =
Average CIBOR =
Receivables at reduced interest rate Total amount of large exposures Loans and advances at beginning of year Excess liquidity after compliance with s. 152(2)
of the Danish Financial Business Act 10% - statutory requirement
Return on equity before tax - average CIBOR Sum of 3M CIBOR per day in the year
No. of days in the year
Loans and advances, etc. + Guarantees + Impairment losses Impairment losses for the year
Loans and advances, etc. + Guarantees + Impairment losses (Loans, etc. at year-end - Loans, etc. at beginning of year) x 100
DEFINITIONS OF RATIOS
Return in excess of the money market rate =
The calculation of average equity takes into account capital increases where capital increases are included at a proportionate share relative to the date of the change. Shares held by minority interests are not included in the calculation of average equity.
Excess cover relative to statutory liquidity requirement = Annual growth in lending =
Total amount of large exposures =
Share of receivables at reduced interest rate =
Capital base
Impairment ratio for the year =
Average CIBOR =
Receivables at reduced interest rate Total amount of large exposures Loans and advances at beginning of year Excess liquidity after compliance with s. 152(2)
of the Danish Financial Business Act 10% - statutory requirement
Return on equity before tax - average CIBOR Sum of 3M CIBOR per day in the year
No. of days in the year
Loans and advances, etc. + Guarantees + Impairment losses Impairment losses for the year
Loans and advances, etc. + Guarantees + Impairment losses (Loans, etc. at year-end - Loans, etc. at beginning of year) x 100
DiReCtoRShiPS
BORIS N. KJELDSEN Deputy Chairman Born 1959 Appointed 2009
Deputy chairman of the boards of directors of: Alm. Brand A/S
Alm. Brand Bank A/S
Alm. Brand Fond Alm. Brand af 1792 fmba
Member of the boards of directors of:
Forsikringsselskabet Alm. Brand Liv og Pension A/S Alm. Brand Forsikring A/S
Directorships outside the Alm. Brand Group
Managing director of: DADES A/S
Member of the management board of: DAVISTA Komplementarselskab A/S
Chairman of the boards of directors of: Sigvald Madsen Holding A/S
Breinholt Consulting A/S Breinholt Invest A/S DATEA A/S
Sigvald Madsen Aktieselskab, Håndværkerfirma Kemp & Lauritzen
Member of the boards of directors of: DAVISTA Komplementarselskab A/S Benny Johansen & Sønner A/S JØRGEN H. MIKKELSEN
Chairman Born 1954 Appointed 2004
Chairman of the boards of directors of: Alm. Brand A/S
Alm. Brand Bank A/S Alm. Brand Fond Alm. Brand af 1792 fmba
Member of the boards of directors of:
Forsikringsselskabet Alm. Brand Liv og Pension A/S Alm. Brand Forsikring A/S
Directorships outside the Alm. Brand Group
Chairman of the boards of directors of: Tømrermester Søren Gliese-Mikkelsen A/S Chr. Petersen A/S
A/S Sydjydsk Korn- og Foderstof-Kompagni Danish Agro Byggecenter A/S
Danish Agro AMBA
Deputy chairman of the board of directors of: Den lokale Andel AMBA
Member of the boards of directors of: Hesselbjerg Agro A/S
DPL Invest A/S
Administrerende direktør BOARD OF DIRECTORS
directorships
ARNE NIELSEN Born 1944 Appointed 2009
Member of the boards of directors of: Alm. Brand A/S
Alm. Brand Bank A/S
Forsikringsselskabet Alm. Brand Liv og Pension A/S Alm. Brand Forsikring A/S
CHRISTIAN BUNDGAARD Born 1976
Appointed 2010
Member of the board of directors of: Alm. Brand Bank A/S
JESPER CHRISTIANSEN Born 1974
Appointed 2009
Member of the board of directors of: Alm. Brand Bank A/S
SØREN BOE MORTENSEN Born 1955
Appointed 1998
Chief Executive of: Alm. Brand A/S
Alm. Brand af 1792 fmba
Chairman of the boards of directors of: Alm. Brand Forsikring A/S
Asgaard Finans A/S Alm. Brand Formue A/S Alm. Brand Præmieservice A/S Alm. Brand Ejendomsinvest A/S
Forsikringsselskabet Alm. Brand Liv og Pension A/S
Deputy chairman of the board of directors of: Alm. Brand Pantebreve A/S
Member of the board of directors of: Alm. Brand Bank A/S
Chairman appointed by the management board of: Pensionskassen under Alm. Brand A/S
Directorships outside the Alm. Brand Group
Chairman of the board of directors of: Forsikringsakademiet A/S
Member of the board of directors of: Forsikring & Pension
MANAGEMENT BOARD
Member of the Management Board BO CHR. ALBERG
Joined Alm. Brand in 1994
Member of the Management Board of Alm. Brand Bank A/S since 2009
Born 1965
Member of the management boards of: Alm. Brand Bank A/S
Alm. Brand Finans A/S
Chairman of the board of directors of: Alm. Brand Pantebreve A/S
Member of the board of directors of: Alm. Brand Finans A/S
Member of the Management Board ULLA HEURLIN
Joined Alm. Brand in 2001
Member of the Management Board of Alm. Brand Bank A/S since 2009
Born 1966
Member of the management board of: Alm. Brand Bank A/S
Deputy chairman of the board of directors of: Alm. Brand Finans A/S
Chief Executive
OLE JOACHIM JENSEN Joined Alm. Brand in 2000
Chief Executive of Alm. Brand Bank A/S since 2009 Born 1962
Chief Executive of: Alm. Brand Bank A/S
Member of the management board of: Asgaard Finans A/S
Chairman of the board of directors of: Alm. Brand Finans A/S
Deputy chairman of the boards of directors of: Alm. Brand Forsikring A/S
Forsikringsselskabet Alm. Brand Liv og Pension A/S
Member of the boards of directors of: Alm. Brand Præmieservice A/S Alm. Brand Ejendomsinvest A/S
directorships
Disclaimer
Forecasts are based on the level of interest rates prevailing at mid-February 2010. All forward-looking statements are based exclusively on the information available when this report was released.
The performance may be affected by major changes in a number of areas. Such impacts include changes in economic conditions, changes in the financial markets, legislative changes, changes in the competitive environment, loans and advances, etc. and guarantees, etc.
The above-mentioned risk factors are not exhaustive. Investors and others who base their decisions on the informa- tion contained in this report should independently consider any uncertainties of significance to their decision. A more detailed review of the bank’s risks is included in the section on risk management.
This annual report has been translated from Danish into English. In the event of any discrepancy between the Danish text and the English-language translation, the Danish text shall prevail.