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Vestjysk Bank swings to Q2 profit

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Vestjysk Bank swings to Q2 profit

Vestjysk Bank A/S on Aug. 10 posted a second-quarter net profit of 52.8 million Danish kroner, swinging from a loss of 1.1 million kroner in the prior-year period.

The bank booked net interest income of 148.3 million kroner, compared with 149.0 million kroner in the prior-year period, while net interest and fee income grew to 253.1 million kroner from 222.6 million kroner.

Impairments for loan losses were 81.0 million kroner, down from 122.4 million kroner in the year-ago period.

For the first half, net profit amounted to 107.8 million kroner, compared with profit of 10.4 million kroner in the prior-year period.

As of June 30, the lender's core capital ratio was 12.2%, compared with 11.8% as of March 31 and 10.6% as of June 30, 2016.

As of Aug. 9, US$1 was equivalent to 6.34 Danish kroner.