Quarterly report for Q1 2008 
for Spar Nord Bank

DKK 183 million in pre-tax profits
 - forecast for core earnings for the year repeated

•	Annualized 18% return on equity before tax
•	Net interest income up 15% to DKK 313 million
•	Net income from fees, charges and commissions down 20% to DKK 104 million 
•	Market-value adjustments reduced to DKK 8 million
•	Costs grew 11% 
•	DKK 8 million recognized as net income due to reversed impairment of loans   
         and advances and related items
•	Earnings from the trading portfolio and an extra payment regarding           
         Totalkredit amount to DKK 37 million in total
•	Lending up 15%, and a 26% hike in deposits
•	Forecast for core earnings for the year repeated 
•	Moody's rating: C, A1, P-1 (unchanged, outlook stable)

Developments in Q1 2008
•	13 consecutive quarterly periods with net growth in customers
•	Net interest income DKK 13 million up on Q4 2007
•	Net income from fees, charges and commissions in line with Q3 and Q4 2007  
•	Sustained strong credit quality level - reporting recognition of net income 
         from impairment of loans, advances, etc. for the 10th consecutive
•	Business volume at same level as at end-2007
•	Leasing activities continue to develop on a very satisfactory note
•	Interest margin widening at a moderate pace 
•	Wider yield spread between Danish mortgage-credit bonds and government bonds 
         means distinctively lower market-value adjustments and loss on
earnings from 
         investment portfolios
•	Improved excess coverage relative to strategic liquidity target