Kaupthing Bank's first quarter 2007 results
Net earnings of ISK 20.3 billion (EUR 279 million)
• Shareholders' net earnings increased by 7.9% compared with the same period in
2006.
• Return on equity in first quarter of 27.6% on an annualized basis.
• Earnings per share of ISK 27.4 in Q1 2007 - compared with ISK 28.3 in Q1 2006
• Operating income of ISK 44.1 billion - increasing by 24.3% compared with the
same period in 2006.
• Net interest income increased by 55.1% compared with the same period in 2006.
• Net fee and commission income increased by 43.4% compared with the same
period in 2006.
• Operating expenses of ISK 17.7 billion - an increase of 41.1% compared with
the first quarter of 2006.
• Total assets of ISK 4,198 billion (EUR 47.7 billion) at the end of March
2007, increasing by 10.1% at a fixed exchange rate from the beginning of the
year and by 3.5% in ISK.
Hreidar Már Sigurdsson, CEO
"We have made a good start to the year and all the Bank's main offices have
delivered solid results. Interest income and commission income have increased
sharply which is a result of the hard work we put in last year to integrate
activities across the group. We are especially satisfied to see the Bank
perform so well in the UK.
Earnings there have increased and the income base has broadened. The Bank is
better placed than ever to achieve continued growth, and the outlook on our key
markets is bright."
Further information
For further information on the results please contact Jónas Sigurgeirsson,
Chief Communications Officer on +354 444 6112 or Ólöf Hildur Pálsdóttir,
Investor Relations, on +354 444 6569 (ir@kaupthing.com). Information on
Kaupthing Bank is also available on the Bank's website www.kaupthing.com
