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ÅRSREGNSKAB OG BERETNING 1999
Så JYSKE BANK
INDHOLD
ÅRSBERETNING
JYSKE BANK-KONCERNEN I HOVEDTAL 2
REGNSKAB OG FORVENTNINGER 3
AKTIONÆRER OG KAPITALFORHOLD 8
KREDITRISICI 9
MARKEDSRISICI nu
ÅRSREGNSKAB
ANVENDT REGNSKABSPRAKSIS 14
RESULTATOPGØRELSE 16
BALANCE 17
KONCERNOVERSIGT 18
PÅTEGNINGER 19
NOTER 20
FINANSIERINGSANALYSE 4
FINANSTILSYNETS NØGLETALSSYSTEM 44
Jyske Bank A/S
Vestergade 8-16
8600 Silkeborg
Telefon 89 22 22 22
Telefax 89 22 24 96
E-mail jyskebankØjyskebank.dk
www.jyskebank.dk
CVR ar. 1761 6617
Tryk: Jyske Bank A/S
ÅRSREGNSKAB OG BERETNING 1999 1
JYSKE BANK-KONCERNEN I HOVEDTAL
RESULTATOPGØRELSE I SAMMENDRAG (kr. mio.) 1999 1998 1997 1996 1995
Netto rente- og gebyrindtægter 2.776 2.761 2.432 2.205 2.250
Kursreguleringer af værdipapirer og valuta mv. 631 -361 79 406 491
Andre ordinære indtægter 175 219 212 207 231
Driftsudgifter og driftsafskrivninger 2.004 1.712 1.807 1.589 1.686
Tab og hensættelser på debitorer 258 249 322 346 382
Kursreguleringer af kapitalinteresser -44 52 -10 64 -151
Ordinært resultat før skat 1.276 710 584 947 753
Skat 379 199 141 302 28
Årets resultat 897 511 443 645 725
HOVEDTAL FRA BALANCEN (kr. mio.) 1999 1998 1997 1996 1995
Indlån 49.813 43.816 41.457 39.293 36.670
Udiån 49,727 39.710 36.557 31.968 29.445
Balance 92.495 76.886 63.080 59.310 51.236
Egenkapital 5,421 5.173 4.772 4.432 3.874
Efterstillede kapitalindskud 1.395 434 425 501 725
NØGLETAL 1999 1998 1997 1996 1995
Jyske Bank-aktien
Kr. pr. aktie a kr. 20
Ordinært resultat før skat 29,58 15,77 12,97 21,05 18,25
Årets resultat 20,83 11,22 9,68 14,22 17,55
Udbytte 3,20 2,80 2,40 2,00 1,60
Udbytteprocent 16,00 14,00 12,00 10,00 8,00
Ultimokurs 149 123 171 88 76
Indre værdi 131 114 105 97 85
Kurs/indre værdi 1,14 1,08 1,63 0,91 0,89
Kurs/resultat 7,2 10,9 17,6 6,2 4,3
Jyske Bank-koncernen
Sølvensprocent 10,5 10,4 10,7 12,2 13,0
Kernekapitalprocent 8,2 9,5 9,8 10,7 10,7
Ordinært resultat før skat i pct. af gns. egenkapital 24,1 14,3 12,7 22,8 22,3
Årets resultat i pct. af gns. egenkapital 16,9 10,3 9,6 15,5 21,5
Indtjening pr. omkostningskrone 1,56 1,36 1,27 1,49 1,36
Renterisiko 2,3 -2,8 -2,3 2,7 4,0
Valutarisiko 0,8 0,5 0,2 0,1 0,3
Hensættelsesprocent 2,8 3,1 3,1 3,2 3,3
Årets tabs- og hensættelsesprocent 0,4 0,5 0,7 0,8 1,0
Antal heltidsmedarbejdere ultimo året 2.923 2.772 2.671 2.674 2.668
2, ÅRSREGNSKAB OG BERETNING 1999
Tilfredsstillende resultat
Ordinært resultat før skat blev kr. 1.276
mio. svarende til en forrentning af den
gennemsnitlige egenkapital på 24,1%.
Udviklingstendenser
Resultatet er baseret på følgende overord-
nede udviklingstendenser:
—… Vækst i forretningsomfang
—… Stabil bruttoindtjening
— Store investeringer, som straksafskri-
ves
—… Tab og hensættelser på lavt niveau
—. Positivt afkast på egenbeholdning af
værdipapirer mv.
Resultatet lever op til de forventninger, som
er blevet offentliggjort i løbet af året.
Konjunkturudviklingen har — trods en
svækkelse i løbet af 1999 — fortsat under-
bygget det solide basale indtjeningsniveau.
Bankens målrettede strategi og de igang-
satte investeringsprojekter viser resultater,
bl.a. i form af en god fremgang i forret-
ningsomfanget. Bankens forretningskoncept
— Jyske Forskelle — ser ud til at leve op til
forventningerne.
REGNSKAB OG FORVENTNINGER
Forretningsomfang
Koncernens indlån er i 1999 steget med
14% til kr. 50 mia. Udlån er steget med
25% til kr. 50 mia.
Forretningsomfanget med eksisterende
kunder er øget, hvortil kommer en nettotil-
gang på knap 9.000 kunder. Det dækker
over en fremgang i indenlandske afdelinger
på knap 10.000 og en mindre tilbagegang i
de udenlandsk relaterede afdelinger — sidst-
nævnte som følge af kraftigere målretning
mod den mest rentable del af kundeseg-
mentet.
Kundetilgangen viser stigende tendens.
Jyske Bank har i 1990'erne ved organisk
vækst haft en nettokundetilgang på godt
50.000 og har nu over 440.000 kunder.
Indlåns- og udlånsudviklingen er herudover
præget af en stigning i omfanget af lavmar-
ginale forretninger med større erhvervskun-
der. Der er sat øget fokus på rentabilitets-
kravene inden for dette forretningssegment.
Ordinært resultat før skat
kr. mio.
1,500 mm re meme tam meer mr
1.250 mmm menn
1.000 mmm mn rn
750
500
250
1995 1996 1997 1998 1999
Indlån og udlån
kr. mia.
BØ men eee nen een mn reen
so
40 mm gr
30 —
20 -
1995 1996 1997 1998 1999
Indlån & Udlån
Kunder
450.000 ————
1995 1996 1997 1998 1999
ÅRSREGNSKAB OG BERETNING 1999 3
REGNSKAB OG FORVENTNINGER
Formue i Jyske Invest
kr. mia.
1995 1996 1997 1998 1999
Basisindtjening
— ny opgørelse
Basisindtjening blev tidligere opgjort efter
retningslinierne i Finanstilsynets nøgletals-
system. Nøgletallet indgår ikke længere
heri. I konsekvens heraf er definitionen af
basisindtjening ændret. Basisindtjeningen
udgør herefter resultatet ekskl. indtjening
på koncernens egne markedspositioner.
Basisindtjeningen giver et bedre billede af
den basale kundedrevne indtjening end den
traditionelle resultatopgørelse.
Bruttoindtjening
Ekskl. indtjening på koncernens egne mar-
kedspositioner blev indtjening før omkost-
ninger kr. 2.888 mio. Set over en femårig
periode er bruttoindtjeningen i gennemsnit
steget med godt 5% om året.
RENTEMARGINAL, KONCERN
Kr. mio, 1999 1998 1997
Gns. rentebærende aktiver
Kreditinstitutter mv. 12.485 10.245 8.224
Udlån 44,704 38.356 33.942
Obligationer 9.901 11.849 8.635
I alt 67.090 60.450 50,801
Gns. rentebærende passiver
Kreditinstitutter mv. 16.309 13.995 $.324
Indlån 46.547 42.744 39.556
Udstedte obligationer 503 249 0
Efterstillede kapitalindskud 793 427 494
I alt 64.152 57.415 48.374
Renteindtægter 3.966 4.180 3.357
i % af rentebærende aktiver 5,9 6,9 6,6
Renteudgifter 1.888 2.047 1.508
i % af rentebærende passiver 2,9 3,6 3,1
Rentemarginal 3,0 3.3 3,5
Koncernens gennemsnitlige aktiver/passiver er opgjort pr. kvartal som gns. af ultimo-
tal. Tallene er korrigeret for obligationer solgt gennem repoforretninger.
AFKAST, PULJER
Afkast Gns. afkast
% %
Pulje Investerer i 1999 1995-1999
1 Primært aktier 57,3 22,6
2 Aktier og obligationer 30,7 16,5
3 Primært obligationer 13,3 10,5
4 Obligationer med kort restløbetid 3,5 7,1
4 ÅRSREGNSKAB OG BERETNING 1999
Nettorenteindtjeningen har ikke i 1999 vist
samme fremgang som i de foregående år.
Det skyldes primært det faldende renteni-
veau igennem 1999, der har betydet en
faldende rentemarginal, og herunder ikke
mindst et faldende rentebidrag på indlån.
Herudover figurerer afkastet af finansielle
instrumenter, der anvendes til rente- og
valutarisikoafdækning, i stigende grad un-
der kursregulering.
Nettogebyrer og provisionsindtægter er
steget 9% til kr. 645 mio. Fremgangen
skyldes et generelt stigende aktivitetsni-
veau. Ikke mindst kundernes handel med
fonds og valuta har ligget på et højt niveau.
Blandt andet har den stigende interesse for
placering af midler i investeringsforeninger
været mærkbar i 1999. Jyske Bank er de-
potbank for investeringsforeningsgruppen
Jyske Invest. Den samlede administrerede
formue udgør kr. 15,7 mia. mod kr. 11,0
mia. ultimo 1998 — en stigning på 43%.
Tilsvarende har interessen for investering
via bankens puljeordninger været stigende.
Der administreres en samlet formue på kr.
6,2 mia. Afkastet har været tilfredsstillende
i 1999,
Omkostninger
Driftsudgifter og -afskrivninger viser en
stigning på 17%.
Omkostningsudviklingen skal ses på bag-
grund af et stort investeringsprogram i
afdelingsnet og IT samt et stigende medar-
bejderantal som følge af væksten i forret-
ningsomfanget og behovet for IT-udvikling.
Der er i 1998 og 1999 i alt etableret 3.520
arbejdspladser på Windows NT-platformen.
Jyske Netbank, der blev introduceret i
sommeren 1998, har 45.000 brugeraftaler
omfattende 70.000 kunder. 31 af bankens
REGNSKAB OG FORVENTNINGER
afdelinger er nu indrettet efter principperne Som følge af, at Jyske Forskelle-konceptet
i Jyske Forskelle. Moderniseringen medfø- ser ud til at leve op til forventningerne,
rer en styrkelse af bankens differentierings- — ventes der i løbet af de kommende år atter
strategi og en fremrykning af ca. 15 års at blive en bedre harmoni mellem de kun-
løbende bygningsinvesteringer i afdelings- dedrevne indtægter og udviklingen i løn-
nettet, som nu afholdes over 4-5 år. omkostningerne.
Der er afholdt en række omkostninger af Tab og hensættelser
engangskarakter, bl.a. til medarbejdernes Tab og hensættelser på debitorer udgør
hjemme-pc'er og renovering af bankens 0,4% af udlån og garantier mod 0,5% i
kursusejendom Gl. Skovridergaard. Der er 1998.
endvidere udgiftsført omkostninger i hen-
hold til bankens medarbejderaktieordning Den afdæmpede konjunkturudvikling har
for 1998 og 1999. ikke i 1999 medført nogen særlig påvirk-
ning af tab og hensættelser, som derfor er
Der er foretaget investeringer i teknologi og — lavere end det forventede niveau på ca. kr.
nyindretning af afdelinger samt afholdt 300 mio.
omkostninger af engangskarakter på i alt kr.
212 mio. i 1999 mod kr. 77 mio. i 1998. Basisindtjening Basisindtjening
Basisindtjeningen blev kr. 633 mio. Resul- kr, mio.
tatet svarer til en 14% forrentning af den til
basisforretningen anvendte egenkapital.
Øvrige omkostninger er steget med 10%, og
heraf lønomkostninger med 8%.
Basisindtjeningen er påvirket af det høje
OMKOSTNINGER . . ; 4
investeringsniveau. Set over en femårig
1999 1998 periode har indtjeningsudviklingen mere
Driftsomkostninger end opvejet de stigende investeringer.
og -afskrivninger 1.988 1.698
Heraf investeringer og 1995 1996 1997 1998 — 1999
omkostninger af
engangskarakter 212 717
Øvrige omkostninger 1.776 1.621
BASISINDTJENING, NY OPGØRELSE
Kr. mio. 1999 1998 1997 1996 1995
Netto rente- og gebyrindtægter 2.469 2.508 2.301 2.075 2.066
Kursregulering af værdipapirer og valuta mv. 244 122 138 139 50
Andre ordinære indtægter 175 219 212 207 231
Bruttoindtjening 2.888 2.849 2.651 2.421 2.347
Driftsudgifter og -afskrivninger 1.988 1.698 1.789 1.587 1.684
Tab og hensættelser på debitorer 268 257 334 349 382
Kursregulering af kapitalinteresser 1 1 -]1 5 -42
Basisindtjening 633 895 527 490 239
Indtjening på egne markedspositioner 643 -185 57 457 514
Ordinært resultat før skat 1.276 710 584 947 753
Basisindtjening er opgjort ekskl. indtjening på bankens egne markedspositioner.
ÅRSREGNSKAB OG BERETNING 1999 5
REGNSKAB OG FORVENTNINGER
Afkast på egne markedspositioner
kr. mio.
750
500
250
250 —
1995 1995
1997 1998 1999
Ejendomme
Den samlede portefølje af grunde og ejen-
domme udgør 22% af egenkapitalen mod
26% i 1998. Som konsekvens af bankens
strategi med fokus på bankdrift er ejen-
domsporteføljen over en årrække reduceret
ved frasalg af ikke-bankrelaterede ejen-
domme. I 1999 er der solgt ejendomme for
kr. 230 mio. Resultatpåvirkningen udgør kr.
19 mio. Den sidste større ikke-bankrela-
terede ejendom er sat til salg.
Værdien af koncernens ejendomme er i
1999 nedskrevet med kr. 23 mio. og op-
skrevet med kr. 23 mio. Der er afskrevet kr.
6 mio.
Egne markedspositioner
Egne markedspositioner er den beholdning
af aktier, obligationer, finansielle instru-
menter og kapitalandele i ikke-konsoli-
derede selskaber, som styres af koncernens
Finansafdeling.
Afkastet har i 1999 været kr. 643 mio. Re-
sultatet er opgjort efter udgifter til funding.
Koncernens markedspositioner vurderes
altid ud fra en langsigtet betragtning. Det
kan medføre udsving i afkastet fra år til år.
Set over en årrække har afkastet været til-
fredsstillende.
Kursregulering af kapitalinteresser gav et
kurstab på kr. 44 mio. mod en kursgevinst
på kr. 52 mio. i 1998. Beholdningen om-
fatter primært aktier i Wessel & Vett Hol-
ding A/S. Vurderingsprincippet er på grund
af nye regnskabsregler ændret fra indre
værdi til børskursrelateret værdi. Den æn-
drede værdiansættelse påvirker årets resul-
tat negativt med kr. 48 mio.
6 ÅRSREGNSKAB OG BERETNING 1999
REGNSKAB OG FORVENTNINGER
Forventninger
Jyske Banks ledelse har i 1999 lagt strategi-
en for bankens vej frem mod år 2002. Der
er i hovedtræk tale om en fortsættelse af
den linie, som banken har fulgt de seneste
år.
12000 ventes en moderat fremgang i brut-
toindtjeningen. Konjunkturafmatningen
svækker umiddelbart forventningerne til
indtjeningsudviklingen. Derimod ventes de
seneste års stigende forretningsomfang og
kundetilgang at sikre en indtj eningsfrem-
gang i 2000.
Investeringerne i afdelingsnettet fortsættes i
2000.
Banken påbegynder i 2000 en udvidelse af
ejendomskomplekset i hj emstedet i Silke-
borg. Der planlægges en udvidelse på 6.500
kvm. Byggeriet ventes ikke at påvirke ban-
kens resultat væsentligt i 2000.
Som følge af den svagere konjunkturudvik-
ling ventes en stigning i tab og hensættel-
ser.
RESULTATFORVENTNINGER 2000
Kr. mio. 2000 1999 1998
Bruttoindtjening 2.900 — 3.200 2.888 2.849
Driftsudgifter og driftsafskrivninger 2.050 — 2.150 1.988 1.698
Tab og hensættelser på debitorer 300 - 400 268 257
Kursregulering af kapitalinteresser 0 1 1
Basisindtjening 600 - 800 633 895
Resultatforventningerne er alene angivet for basisindtjen
positioner.
ing ekskl. indtjening på koncernens egne markeds-
ÅRSREGNSKAB OG BERETNING 1999 7
AKTIONÆRER OG KAPITALFORHOLD
Aktiekapitalens fordeling
andel i %
so
40
30
MH Aktionærer med 1-499 stk.
Aktionærer med 500-10000 stk.
D Aktionærer med > 10.000 stk
E3 Ukendte aktionærer
E Egne aklier
Kursudvikling
200
175
150
125
100
75
50
25
0
ere
1995 1996 1997 1998 1999
—— Jyske Bank — — Bankindeks
Aktionærer
Jyske Bank-aktien har i 1999 givet et afkast
inklusive udbytte på 24,6%. Over de sene-
ste fem år har Jyske Bank-aktien givet et
afkast på 19,4% p.a. Til sammenligning har
10-årige statsobligationer givet et afkast på
11,8% p.a.
Bestyrelsen foreslår et udbytte for 1999 på
kr. 3,20 pr. aktie svarende til en udbyttebe-
taling på 16% eller kr. 132 mio. mod kr.
126 mio. året før, Det er femte år i træk,
udbytteprocenten sættes op. Jyske Bank
afholder generalforsamling den 21. marts i
Silkeborg. Udbyttet er til disposition den
27. marts.
Jyske Bank fik i 1999 en nettotilgang på
10.142 nye aktionærer og havde ved ud-
gangen af året 161.221 aktionærer. 36% af
aktiekapitalen ejes af aktionærer, som hver
især har under 1.000 aktier. Tre aktionærer
. ejer mere end 5%: ATP, Hillerød, PFA,
5 års løbende afkast
%
40
35
30
25
p.a.
1995 199% —— 199 1998 1999
£2 Jyske Bank-aktien
10-årige statsobligationer
København, og Codan, København.
Kapitalforhold
I 1999 blev aktiekapitalen nedsat med
kr. 75 mio. til kr. 825 mio. Det svarer i
princippet til et ekstraordinært udbytte på
kr. 506 mio.
I oktober 1999 blev aktierne opdelt i en
stykstørrelse på kr. 20 i stedet for kr. 100.
Aktiesplittet skal ses i lyset af et ønske om
at forstærke likviditeten i aktien. Aktie-
kapitalen består herefter af 41.250.000
aktier a nominelt kr. 20 i én aktieklasse.
KREDITVURDERING
Lang Kort
gæld gæld Individuel
Moody's:
1993 A3 P-2 -
1997 A2 P-1 Cc
1999 A1 P-1 C+
FITCH/IBCA:
1994 Å Fi B/C
1996 Å Fi B
1999 Å Fi B
& ÅRSREGNSKAB
OG BERETNING 1999
Det er bankens mål at opretholde en solvens
på omkring 10% og en kernekapital på
minimum 7%. Tidligere var bankens mål en
solvens på minimum 10%-12% og en ker-
nekapital på minimum 8%-10%.
Kapitalnedsættelsen og tilpasningen af
bankens sølvensmål skyldes ønsket om
løbende at sikre en hensigtsmæssig kapital-
struktur, bl.a. under hensyntagen til forhol-
det mellem prisen på egenkapital og supple-
rende kapital. I den forbindelse vil den
seneste opgradering af Jyske Banks rating
have en positiv indvirkning på prisen på
supplerende kapital.
Ændringen skal herudover ses på baggrund
af, at Jyske Bank gennem de senere års
konsolidering af indtjening, kapitalstruktur
og risici er rustet til en eventuelt foreståen-
de lavkonjunktur.
Koncernens egenkapital er kr. 5,4 mia.
Kapitalgrundlaget bestod ved udgangen af
1999 af kr. 5,1 mia. kernekapital og kr. 1,4
mia. supplerende kapital. Solvensen var
ultimo 1999 10,5%, hvoraf kernekapitalen
udgjorde 8,2%,.
Obligationsprogram
I efteråret 1997 etablerede banken et Euro
Medium Term Note-program (lånefacilitet)
med en samlet ramme på USD 1 mia. Der
kan under programmet optages såvel al-
mindelige lån som lån med status som SUup-
plerende kapital. Ultimo 1999 udgjorde
udestående udstedelser under programmet
USD 155 mio.
Rating
Banken får løbende foretaget en kreditvur-
dering hos internationalt anerkendte kre-
ditvurderingsbureauer.
Den seneste ændring i kreditvurderingerne
fandt sted i december 1999, hvor Moody's
hævede ratingen for bankens langfristede
gæld fra A2 til A1. Samtidig blev ratingen
for bankens finansielle styrke forhøjet fra C
til C+.
KREDITRISICI
Kreditkvalitet
Konjunkturudviklingen stagnerede i 1999.
Effekten heraf afspejler sig endnu kun i
beskedent omfang i erhvervslivets driftsre-
sultater, ligesom de private økonomier
heller ikke er særligt påvirkede.
I det kommende år forventer banken, at
konjunkturafmatningen vil blive mere
mærkbar, hvilket traditionelt afspejler sig i
øgede tab og hensættelser i banksektoren.
Bankens hensættelser afspejler disse for-
ventninger, idet de langsigtede kreditrisici
og konjunktursvingningernes påvirkning
indgår som et centralt element i risikovur-
deringen.
Jyske Bank afdækker således kreditrisici
betryggende, og de foretagne hensættelser
er tilstrækkelige.
Hensættelsessaldoen er i 1999 steget fra kr.
1,624 mio. til kr. 1.780 mio. svarende til
2,8% af koncernens udlån og garantier mod
3,1% i 1998. Årsagen til faldet i hensættel-
sesprocenten er væksten i udnyttelsen af
større engagementer med lav risiko til store
erhvervskunder.
Hensættelsespolitik
Det er bankens overordnede målsætning på sigt at
opnå en samlet hensættelsessaldo, der kan dække
tre års gennemsnitlige tab ud fra en langsigtet
konjunkturbetragtning.
Hovedprincippet er, at den individuelle hensæt-
telse på risikoengagementer og nødlidende enga-
gementer foretages decentralt af den kundeansvar-
lige medarbejder. Desuden foretages en central
vurdering af yderligere hensættelsesbehov med
henblik på at understøtte den overordnede målsæt-
ning.
Centralt foretages herudover en supplerende
hensættelse med udgangspunkt i en statistisk
vurdering af den forventede tabsrisiko på mindre,
ensartede engagementer.
TAB OG HENSÆTTELSER
Kr. mio. 1999 1998. 1997 1996 1995
Hensættelse primo året 1.624 1.477 1.336. 1.248. 1.292
kursregulering af primohensættelser 4 -3 5 7 -2
+ årets nettostigning i hensættelser 305 284 305 326 342
- tabsbogført i årets løb
Med hensættelse primo året -153 -134 -169 -245 -384
Uden hensættelse primo året (51) (68) (95) (91) (93)
Hensættelse ultimo året 1,780 1.624 1.477 1.336. 1.248
(heraf B-hensættelser) (161) (144) (138) (174). (233)
Indgået på tidligere afskrevne fordringer 98 103 78 TI 53
Tabellen viser bevægelserne på koncernens hensættelsessaldo, herunder en
opsplitning af, hvad der netto merhensættes (nye og øgede hensættelser med
fradrag af tilbageførte unødvendige hensættelser), og hvad der primo året for-
lods var hensat til årets bogførte tab.
RENTENULSTILLEDE KREDITTER
Kr. mio. 1999 1998 1997 1996 1995
Rentenulstillet 322 320 337 434 606
i% af udlån og garantier pr. 31.12. 0,5 0,6 0,7 1,0 1,6
Hensættelse (tabsrisiko) på engage-
menter med rentenulstillede kreditter 232 233 233 217 244
Tabeilen viser koncernens rentenulstillede kreditter i beløb og i procent af
koncernens udlån og garantier pr. 31. december. Desuden vises hensættelsen på
de rentenulstillede kreditter, svarende til engagementernes fulde tabsrisiko.
FORDELING PÅ
LANDEGRUPPER
Alle tilsagte engagementer”>
%
Danmark 84,7
Zone A-lande ud over Danmark” 13,4
Øvrige lande i verden 1,9
Jyske Bank i alt 100,0
> Zone A-lande omfatter OECD-deltagere samt få andre lande.
xxTilsagte engagementer omfatter udlån, kreditter inkl.
uudnyttede trækningsrettigheder, afgivne garantier samt
ubevilgede overtræk.
ÅRSREGNSKAB OG BERETNING 1999 9
KREDITRISICI
FORDELING PÅ ENGAGEMENTER
Tilsagt engagement, kr. mio. 0-2 2-20 20-200 >200 Total
Antal kunder 109.297 4.180 379 62 113.918
Engagementsandel, % 239 20,5 18,5 371 100,0
Hensættelsesandel, % 473 27.6 13,3 11,8 100,0
Tilsagte engagementer indeholder udlån, kreditter inkl. uudnyttede trækningsrettig-
heder, afgivne garantier samt ubevilgede overtræk. I hensættelsesandelen i kategori-
en kr. 0-2 mio. indgår statistiske hensættelser.
FORDELING PÅ HOVEDBRANCHE-
GRUPPER
Tilsagte Udnyttede Hensættelser
engagementer — engagementer
% % %
Offentlige myndigheder 1 1 0
Landbrug, skovbrug og jagt 6 6 9
Fiskeri 0 0 ø
Fremstilling, råstofudvinding mv. 8 7 14
Bygge- og anlæg 2 3 3
Handel og hotel 11 11 22
Transport 6 3 3
Finansiering og forsikring 20 12 1
Ejendomsadm. og service” 10 15 18
Øvrige erhverv 14 10 Z
Private 22 32 23
Jyske Bank i alt 100 100 100
< Inkl. holdingselskaber
Udnyttede engagementer indeholder udlån, kreditter, afgivne garantier samt ubevil-
gede overtræk.
Tilsagte engagementer indeholder tillige uudnyttede trækningsrettigheder.
For de af bankens engagementer, hvorpå der er foretaget hensættelse, vises en tilsva-
rende fordeling af hensættelsessaldoen. Fordeling af hensættelsessaldoen er foretaget
ud fra den af banken anvendte erhvervsgruppering.
10 ÅRSREGNSKAB OG BERETNING 1999
Rentenulstillede kreditter
Rentenulstillede kreditter udgør ved årets
slutning kr, 322 mio. svarende til 0,5% af
koncernens udlån og garantier mod kr. 320
mio. svarende til 0,6% ultimo 1998.
Den stort set uændrede saldo for rentenul-
stillede kreditter er udtryk for en stabil
udvikling på baggrund af, at ændringerne i
konjunktursituationen endnu kun beskedent
har påvirket kundernes økonomi.
Risil ining
Jyske Bank har 113.918 kunder med enga-
gement i form af udlån, kreditter, afgivne
garantier eller ubevilgede overtræk. Mere
end 84% af långivningen sker til danske
kunder, og under 2% udlånes til kunder
uden for EU og OECD-landene.
Lovgivningen fastsætter, at ingen engage-
menter må udgøre mere end 25% af kon-
cernens ansvarlige kapital, og at summen af
engagementer på mere end 10% af koncer-
nens ansvarlige kapital ikke må overstige
800% af koncernens ansvarlige kapital.
Banken har 11 engagementer, der overstiger
10%, og som tilsammen udgør 165% af
koncernens ansvarlige kapital. Det tilsva-
rende tal var for 1998 138% fordelt på 9
engagementer.
Retssager
Som følge af almindelige forretningsmæs-
sige aktiviteter er banken part i en række
forskellige retssager og tvister, herunder
selskabstømmersager. Banken vurderer
risikøen bl.a. under hensyn til seneste rets-
praksis og foretager individuelt de nødven-
dige hensættelser.
Balance- og risikostyring
Både handel med og eksponering i
rente-, valuta- og aktieinstrumenter er
væsentlige forretningsområder med be-
tydning for bankens indtjening.
Banken tilstræber en effektiv balance- og
risikostyring, idet beslutninger vedrøren-
de den finansielle styring er afstemt efter
udviklingen i bankens øvrige forret-
ningsområder.
Der sker fortsat udvikling af produkter
og risikostyringsmetoder på de finan-
sielle markeder. Bankens risikoopgørel-
ser baseres på interne risikostyringsmo-
deller. Der er høj grad af sammenfald
mellem de standarder for risikoopgørel-
se, der anbefales internationalt, og ban-
kens interne modeller.
Bankens Value at Risk på rente-, valuta-
og aktierisici (risikoen for kurstab op-
gjort med 1 dags horisont og 95% sand-
synlighed) udgjorde ultimo 1999 kr. 28
mio., hvoraf renterisikoen alene udgjorde
kr. 25 mio. Tilsvarende var Value at Risk
ultimo 1998 kr. 38 mio., hvoraf renterisi-
koen udgjorde kr. 34 mio.
Politik vedrørende markedsrisici
Jyske Bank har fastlagt politikker for styring af ren-
te-, valuta-, aktie-, råvare- og likviditetsrisici. Ban-
kens handelsaktiviteter og egne investeringer inde-
bærer markedsrisici, der på hvert område er limiteret.
Koncernens overordnede balance- og risikostyring
foretages i Finansafdelingen.
Principper for opgørelse af markedsrisici fastlægges
af Forretningskoncepter Handel, Finans og Udland.
De enkelte risikoområder overvåges løbende af
Økonomiområdet, og bankens ledelse modtager
løbende detaljeret rapportering.
Opgørelse af markedsrisici
Renterisici styres internt ved at opgøre den totale
tabsrisiko ved en generel ændring i renteniveauet på
1 procentpoint (Renterisiko I).
Hertil kommer en renterisikoberegning, der tager
udgangspunkt i en sådan generel ændring irenteni-
veauet, men med risikotillæg for modsatrettede
rentepositioner på tværs af lande eller på tværs af
rentestrukturen og med tillæg for rentevolatilitet
(Renterisiko 2).
Valutarisici styres ved at opgøre den samlede valu-
taeksponering målt som den numerisk største værdi
af valutaer, hvori koncernen har henholdsvis netto
tilgodehavende (lange positioner) og netto gæld
(korte positioner) opgjort i DKK (Valutakursindika-
tor 1). I den interne risikostyring vægtes valutaerne
således, at valutaer med større volatilitet og lav
likviditet vægtes højere.
Hertil kommer en valutarisikoberegning, der udtryk-
ker den forventede maksimale tabsrisiko over en
periode på ti handelsdage baseret på den historiske
udvikling i de enkelte valutaers kursudvikling og
samvariation (Valutakursindikator 2).
I den interne risikostyring opgøres endvidere de
specielle risici, der karakteriserer valutaoptioner.
Aktierisici opgøres på alle børsnoterede og unotere-
de aktier. I risikostyringen opgøres den totale tabsri-
siko ved 10% ændring i aktiekurserne henholdsvis
parallelt (Aktierisiko a) og ikke-parallelt (Aktierisiko
b).
Likviditetsrisici opgøres med udgangspunkt i den
overordnede balancestyring, hvor målet er at opret-
holde et tilstrækkeligt likviditetsberedskab. Der er på
koncernniveau fastlagt grænser for likviditetsrisiko-
en.
Den interne risikoopgørelse tager udgangspunkt i
Finanstilsynets retningslinier for opgørelse af likvi-
ditet. Likviditetsberedskabet opgøres som ubelånte
letrealisable fordringer. Herudover tages der hensyn
til basislikviditetsoverskuddet, dækkende det stabile
indlån og egenkapital fratrukket udlån og materielle
aktiver,
Value at Risk-opgørelser udarbejdes som supple-
ment til ovennævnte risikoopgørelser. Value at Risk
udtrykker den forventede maksimale tabsrisiko over
en periode, baseret på den historiske udvikling i de
enkelte forretningtypers kurs og samvariation.
Rente-, valuta-, aktie- og råvarerisici opgjort efter
CAD-principper indberettes kvartalsvis til myndig-
hederne.
MARKEDSRISICI
ÅRSREGNSKAB OG BERETNING 1999 11
MARKEDSRISICI
Renterisiko 1 og 2
i pct. af egenkapital ult. kvartal
1995 1996 1997 1998 1999
— -Renterisiko 1 —— Renterisiko 2
Valutakursindikator 2
i pct. af egenkapital ult. kvartal
0.8 . SEER
0,7
0,8
0,5
0,4
6,3
0,2
0,1
20:
1995 1996 1997 1998 1999
Aktierisiko
i pet. af egenkapital ult. kvartal
0,00) Hmmm ff tr
1995 1998 1997 1998 1999
Renterisiko
Renterisikoen omfatter koncernens sam-
lede tabsrisiko som følge af rente-
ændringer på de finansielle markeder.
Renterisikoen opgjort efter Finanstilsy-
nets model ved en generel stigning i
renteniveauet på ét procentpoint var
ultimo 1999 kr. 120 mio. Heraf udgjorde
kr. 47 mio. dansk renterisiko og kr. 73
mio. udenlandsk renterisiko. Tilsvarende
udgjorde den samlede renterisiko kr.
-139 mio. ultimo 1998, fordelt med kr. -5
mio. i dansk renterisiko og kr, -134 mio.
i udenlandsk renterisiko.
Renterisikoen udgør fortsat den væsent-
ligste del af koncernens markedsrisiko.
Renterisikoen ved en generel rentestig-
ning (Renterisiko 1) udgjorde i 1999
gennemsnitlig 0,0% af egenkapitalen
mod tilsvarende -3,7% i 1998 og 1,3% i
1997.
Overordnet har banken i løbet af 1999 — i
takt med et stigende renteniveau — æn-
dret renterisikoen fra en negativ renteri-
siko til en positiv renterisiko. Denne
strategi er afstemt efter bankens øvrige
risici,
Risikoen ved en generel rentestigning
(Renterisiko 1) er dog ikke dækkende for
den samlede renterisiko, da der er et vist
omfang af modsatrettede renterisici,
såvel mellem nationale rentemarkeder
som inden for det enkelte rentemarked.
Den interne renterisikoberegning (Rente-
risiko 2), der bl.a. tager højde for ikke-
parallelle renteskift, er mindsket fra et
forholdsvis højt niveau i 1998.
Valutarisiko
Valutarisikoen er i 1999 øget i forhold til
1998. Ultimo 1999 udgjorde valutarisi-
koen opgjort som Valutakursindikator 2
kr. 40 mio. (svarende til 0,7% af ultimo-
egenkapitalen) mod tilsvarende kr. 23,0
mio. i 1998 og kr. 9,0 mio. i 1997,
Valutarisikoen udgør dog fortsat en min-
dre andel af bankens samlede markedsri-
sici.
VALUTARISICI
Kr. mio. ultimo
EUR 330
USD -144
JPY -536
GBP -233
NOK 194
CHF -92
HKD -103
Øvrige, lang 117
Øvrige, kort -11
I alt netto -278
Aktierisil
Kursværdien af koncernens børsnoterede
aktier og aktieinstrumenter udgjorde
ultimo 1999 kr. 437 mio. Ultimo 1998
var kursværdien af koncernens børsnote-
rede aktier og aktieinstrumenter kr. 251
mio.
RENTERISIKO 1, VALUTA- OG VARIGHEDSOPDELT
Kr. mio. ultimo <l år 2 år 5 år >10 år I alt
DKK 37 19 -54 25 47
EUR 10 I 91 87 189
USD 0 0 5 -l 4
JPY 0 0 -92 -40 -132
GBP 2 21 -3 -19 ]
SEK 5 3 3 -3 8
NOK 2 0 3 ] 6
Øvrige 0 4 1 0 -3
I alt 76 40 -46 50 120
12 ÅRSREGNSKAB OG BERETNING 1999
Kursværdien af unoterede aktier udgjor-
de ultimo 1999 kr. 65 mio. mod kr. 51
mio. ultimo 1998. Beholdningen af uno-
terede aktier består primært af anlægsak-
tiver.
Aktierisikoen ved en generel ændring af
aktiekurserne var — på trods af den for-
øgede aktieeksponering — fortsat på et
relativt beskedent niveau i 1999.
Finansielle instrumenter bruges af såvel
kunder som banken til afdækning og
styring af markedsrisici.
Finansielle instrumenter udgør en stadig
stigende del af såvel kunde- som inter-
bankomsætningen. Især større efter-
spørgsel efter Forward Rate Agreements
og andre rentebaserede forretninger har
bidraget til et forøget forretningsomfang.
Kreditrisikoen på finansielle instrumen-
ter opgøres pr. modpart og indgår i kre-
ditrisikostyringen. I bankens solvensop-
gørelse ultimo 1999 androg den uvægte-
de kreditrisiko, der er forbundet med
finansielle instrumenter, kr. 6,4 mia.
fordelt med kr. 5,4 mia. på andre banker
og kr. 1,0 mia. på kunder, mod kr. 4,9
mia. ultimo 1998 fordelt med kr. 4,3 mia.
på andre banker og kr. 0,6 mia. på kun-
der.
Likviditetsrisil
Koncernen har et solidt likviditetsbered-
skab på kr. 8,8 mia. ultimo 1999 mod kr.
9,5 mia. ultimo 1998.
På linie med sektoren har også Jyske
Bank i 1999 stigende udlån og dermed et
mindre indlånsoverskud. Koncernen har
dog fortsat et basislikviditetsoverskud på
kr. 2,7 mia., som er med til at mindske
afhængigheden af øvrige fundingkilder.
Koncernens forbedrede rating og EMTN-
programmet bevirker, at Jyske Banks
uudnyttede fundingmuligheder er yderli-
gere styrket.
MARKEDSRISICI
MARKEDSRISICI 1995-1999
I procent af egenkapital Gns. Maks. Min. Ultimo
ultimo kvartal 1999
Valutarisiko
Valutakursindikator 2 0.3 0,7 0,1 0,7
Renterisiko
Renterisiko I 1,5 7,8 -5,5 2,2
Renterisiko 2 6,6 11,0 5,1 54
Aktierisiko
Ved 10% kursændring 0.1 0.1 0,0 0,1
FINANSIELLE INSTRUMENTER
Kr. mia. ultimo, 1999 1998
nominelt beløb
<lår 1-5 år >5år I alt I alt
Valutakontrakter 260,2 4,0 - 264,2 257,8
Rentekontrakter 648,7 218,5 19,3 886,5 637,5
Aktiekontrakter 2,3 0,3 - 2,6 1,5
Råvarekontrakter 0,6 0,1 - 0,7 0,5
I alt 911,8 222,9 19,3 1.154,0 897,3
Udarbejdet efter Finanstilsynets seneste regnskabsbekendtgørelse
LIKVIDITET
Kr. mia, ultimo 1999 1998 1997 1996 1995
PLACERING
Ultralikvid placering
Nationalbank folio 0,1 0,5 0.1 0,2 0.2
Indskudsbeviser 3,3 0,8 0.7 5,0 3,5
1 alt 3,4 1,3 0.8 5,2 3.7
Likvid placering
Skatkammerbeviser 1,1 L1 0,9 0,5 0,8
Statsobligationer 11 0,4 -1,5 -3,3 0,1
Realkreditobligationer 5,3 10,2 8,9 5,6 2,7
Udenlandske obligationer -1,3 0,1 1,6 1,5 1,6
] alt 6,2 11,8 9,9 4,3 5,2
Anden placering
Aktier og pantebreve 1,0 0,8 0,9 1,0 1,3
I alt 1,0 0.8 0,9 1,0 1,3
Interbank-placering 9,4 6,5 49 6,7 3,3
Placering i alt 20,0 20,4 16,5 17.2 13,5
FREMSKAFFELSE
Basislikviditet” 2,7 9,8 10,9 11,3 10,1
Repo-belåning i Nationalbanken 5,0 3,5 0,6 - 0,6
Interbank-fremskaffelse 12,3 7,1 5,0 5,9 2,8
Fremskaffelse i alt 20,0 20,4 16,5 17,2 13,5
$Opgjort residualt
ÅRSREGNSKAB OG BERETNING 1999 13
ANVENDT REGNSKABSPRAKSIS
Generelt
Koncernregnskabet og årsregnskabet for
Jyske Bank A/S er udarbejdet i overens-
stemmelse med lov om banker og spare-
kasser. bekendtgørelse om regnskabsaf-
læggelse for pengeinstitutter samt Finans-
tilsynets vejledning.
Regnskaberne er endvidere udarbejdet i
henhold til Københavns Fondsbørs" regler
om oplysningsforpligtelser for udstedere
af børsnoterede værdipapirer, herunder
danske regnskabsvejledninger med de
tilpasninger, der følger af regnskabsreg-
lerne for pengeinstitutter.
Den anvendte regnskabspraksis er uændret
i forhold til sidste år.
Der er i 1999 gennemført en ændring af
regnskabsbekendtgørelsens bestemmelser
om værdiansættelse af kapitalandele i
associerede virksomheder, hvorefter disse
nu kan værdiansættes til Købspris eller en
lavere værdi, såfremt anvendelse af indre
værdis metode ikke skønnes at give et
retvisende billede. I tilslutning til denne
ændring værdiansættes bankens aktier i
Wessel & Vett Holding A/S, som ejer
børsnoterede aktier i A/S Th. Wessel &
Vett Magasin du Nord, i 1999 med ud-
gangspunkt i balancedagens børskursvær-
di af aktierne i A/S Th. Wessel & Vett
Magasin du Nord, idet banken anser en
sådan ændring for mere retvisende end en
værdiansættelse efter indre værdis meto-
de. Den ændrede værdiansættelse påvirker
isoleret årets resultat negativt med kr. 48
mio.
Femårsoversigten over nøgletal er ændret
1 henhold til regnskabsbekendtgørelsen.
Sammenligningstal er så vidt muligt
tilpasset.
Konsolidering
Koncernregnskabet omfatter Jyske Bank
A/S og de virksomheder, i hvilke banken
besidder flertallet af stemmerettighederne
eller på anden måde har en bestemmende
indflydelse. Virksomheder, hvor bankens
besiddelse er midlertidig til afvikling af
engagementer eller som led i omstrukture-
ring af virksomheden, konsolideres ikke.
Koncernregnskabet udarbejdes på grund-
lag af regnskaber for Jyske Bank A/S og
dattervirksomhederne ved sammenlæg-
ning af regnskabsposter med ensartet
indhold og med efterfølgende eliminering
af interne indtægts- og udgiftsposter,
interne aktiebesiddelser, mellemværender
og garantier samt koncernintern fortjene-
ste på materielle anlægsaktiver, De regn-
skaber, der anvendes til brug for konsoli-
deringen, udarbejdes i overensstemmelse
med koncernens regnskabspraksis.
Nyerhvervede dattervirksomheder indgår i
koncernregnskabet fra købsdagen. Solgte
dattervirksomheder indgår i koncernregn-
skabet til salgsdagen, En eventuel positiv
forskelsværdi ved køb af nye kapitalan-
dele bliver fratrukket egenkapitalen.
Fremmed valuta
Aktiver og passiver i fremmed valuta
optages til valutakursen ultimo regnskabs-
året. Indtægter og udgifter i fremmed
valuta omregnes efter valutakursen på
bogføringstidspunktet.
For noterede valutaer anvendes Danmarks
Nationalbanks offentliggjorte informati-
onskurser. For unoterede valutaer anven-
des forsigtigt skønnede kurser,
Regnskaber for udenlandske dattervirk-
somheder omregnes til valutakursen
ultimo regnskabsåret for balanceposter og
til gennemsnitlige valutakurser for resul-
tatopgørelsens poster. Ændringen i værdi-
en af primo-egenkapitalerne som følge af
ændringer i valutakurser i regnskabsåret
medtages i resultatopgørelsen under
kursregulering af valuta. Forskellen ved
omregning af dattervirksomhedernes
resultatopgørelse til valutakurser ultimo
regnskabsåret og til gennemsnitlige valu-
takurser medtages ligeledes i resultatopgø-
relsen under kursregulering af valuta.
14 ÅRSREGNSKAB OG BERETNING 1999
Udlån og garantier mv.
Udlån, garantier mv. og andre tilgodeha-
vender, herunder fordringer i gældstruede
lande, gennemgås og vurderes kritisk.
Såfremt det vurderes, at et engagement
ikke kan tilbagebetales, foretages der en
hensættelse svarende til det sandsynlige
tab efter en konkret vurdering af sikkerhe-
derne.
Når det konstateres, at et engagement
bliver nødlidende, senest ved betalings-
standsning, konkurs eller tvangsauktion,
ophører banken med at indtægtsføre renter
med virkning fra regnskabsårets begyn-
delse, Efterfølgende foretager banken en
beregning af det sandsynlige tab, der
herefter afskrives, mens den tilsvarende
hensættelse fjernes fra hensættelsessaldo-
en.
De således opgjorte hensættelser samt
konstaterede tab udgiftsføres i resultatop-
gørelsen under tab og hensættelser på
debitorer,
Hensættelsessaldoen til imødegåelse af
fremtidige tab på udlån og garantier
oplyses i noterne. Hensættelsessaldoen
opdeles i A-hensættelser, hvor der er
sandsynlig risiko for tab, og B-hensættel-
ser, hvor tab vurderes uundgåeligt, men
hvor størrelsen af tabet endnu ikke kan
vurderes fuldt ud.
Fastforrentede tilgodehavender nedskri-
ves, således at forrentningen mindst svarer
til markedsrenten for tilsvarende fordrin-
ger. De foretagne nedskrivninger og
tilbageførsler heraf føres i resultatopgørel-
sen under kursregulering af fastforrentede
udlån. Fastforrentede tilgodehavender
optages maksimalt til pari. For unoterede
tilgodehavender, der er erhvervet til
underkurs, indtægtsføres underkursen
forholdsmæssigt over restløbetiden.
Leasingaktiver
Koncernens leasingaktiver er finansiel
leasing og optages i balancen under udlån.
Såvel udlån som forpligtelser værdian-
sættes til anskaffelsespris med fradrag af
afdrag beregnet efter annuitetsprincippet
og under hensyn til de enkelte aktivers
økonomiske levetid, således at anskaffel-
sesprisen med fradrag af en eventuel
skønnet restværdi afskrives over leasing-
perioden.
Periodiserede leasingydelser med fradrag
af årets afdrag medtages i resultatopgørel-
sen under renteindtægter.
Obligationer og aktier
Noterede værdipapirer optages til mar-
kedsværdien ultimo regnskabsåret. Unote-
rede værdipapirer optages til købsprisen
eller en forsigtigt vurderet markedsværdi,
hvis denne er lavere, Unoterede investe-
ringsforeningsandele optages til den af
investeringsforeningen beregnede kurs.
Visse obligationer og fastforrentede
tilgodehavender, hvor renterisikoen er
afdækket, kursreguleres ikke.
Kapitalandele
Kapitalandele i associerede virksomheder
mv. og dattervirksomheder værdiansættes
efter indre værdis metode. Virksomheder-
nés årsresultater efter skat og efter kor-
rektion for urealiserede interne avancer
indgår i Jyske Bank A/S's resultatopgørel-
se under resultat af kapitalandele i asso-
cierede virksomheder og tilknyttede
virksomheder. Kapitalandele i associerede
virksomheder værdiansættes dog til
købspris eller en lavere værdi, hvis an-
vendelse af indre værdis metode ikke
skønnes at give et retvisende billede.
Kapitalandele i virksomheder, hvor ban-
kens besiddelse er midlertidig til afvikling
af engagementer eller som led i omstruk-
turering af virksomheden, værdiansættes
til købspris eller lavere skønnet værdi.
ANVENDT REGNSKABSPRAKSIS
Egne kapitalandele optages til den offi-
cielt noterede kurs ultimo regnskabsåret.
Repo-/reverse-forretninger
Solgte værdipapirer, hvor der samtidig
med salget træffes aftale om tilbagekøb til
en bestemt pris på et senere tidspunkt
(repo-forretninger), forbliver i balancen
samt forrentes og kursreguleres. Modtag-
ne beløb opføres som gæld til erhverve-
ren, dvs. som indlån eller gæld til kredit-
institutter og centralbanker.
Købte værdipapirer, hvor der samtidig
med købet træffes aftale om tilbagesalg til
en bestemt pris på et senere tidspunkt
(reverse-forretninger), bogføres som lån
mod sikkerhed i de pågældende værdipa-
pirer. De købte værdipapirer optages
derfor ikke i balancen. De ved købet
udbetalte beløb opføres som udlån eller
tilgodehavender hos kreditinstitutter og
centralbanker, og afkastet føres under
rente af udlån eller under rente af tilgode-
havender hos kreditinstitutter og central-
banker.
Immaterielle aktiver
Immaterielle aktiver, herunder ombyg-
ningsudgifter i lejede lokaler og edb-
udviklingsudgifter, udgiftsføres fuldt ud i
anskaffelsesåret.
Materielle aktiver
Ejendomme optages til anskaffelsespris
med tillæg af forbedringer og opskrivnin-
ger samt med fradrag af af- og nedskriv-
ninger.
Ejendomme op- og nedskrives på grund-
lag af individuelle periodiske vurderinger.
Opskrivninger foretages alene ved væ-
sentlige og varige værdiforøgelser, mens
nedskrivninger altid foretages ved værdi-
forringelser.
Bank- og anlægsejendomme afskrives
lineært over den skønnede brugstid, dog
maksimalt over 50 år. Der afskrives ikke
på grundværdier og på bygningernes
skønnede scrapværdi, som er fastsat til
henholdsvis 75% og 50% af værdien af
bank- og anlægsejendomme,
Maskiner og inventar afskrives systema-
tisk over aktivernes forventede levetid.
dog maksimalt over 3 år. Enkeltaktiver til
anskatfelsessum under kr. 100.000 afskri-
ves fuldt ud i anskaffelsesåret.
Finansielle instrumenter
Terminsforretninger. rente- og valu-
taswaps, forward rate agreements, optio-
ner og futures optages til markedsværdien
ultimo regnskabsåret. Værdireguleringer
medtages i resultatopgørelsen under
kursregulering af afledte finansielle
instrumenter f.s.v. angår renteændringer
og under kursregulering af valuta f.s.v.
angår valutakursændringer.
Visse finansielle instrumenter, der afdæk-
ker renterisikoen på fastforrentede aktiver
og passiver, kursreguleres ikke.
Terminsrenter vedrørende fonds- og
valutaterminsforretninger samt renter
vedrørende rente- og valutaswaps periodi-
seres over de enkelte forretningers løbetid
og posteres med nettobeløbet i resultatop-
gørelsen under renteindtægter/termins-
præmie af afledte finansielle instrumenter.
Skatter
Banken er sambeskattet med hovedparten
af dattervirksomhederne. Den beregnede
danske skat af årets indkomst afsættes i og
betales af moderselskabet, mens uden-
landsk skat afsættes i de pågældende
udenlandske dattervirksomheder.
Udskudt skat som følge af tidsbestemte
afvigelser mellem årsregnskab og skatte-
regnskab udgiftsføres og hensættes i
balancen under hensættelser til udskudt
skat. Den skat, der herudover vil frem-
komme ved et eventuelt salg af aktiver til
de bogførte værdier, hensættes ikke i
balancen, men oplyses som latent skat i en
note.
Banken er tilmeldt acontoskatteordningen.
ÅRSREGNSKAB OG BERETNING 1999 15
RESULTATOPGØRELSE FOR 1999
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
13 Renteindtægter 3.965.868 4.179.803 3.654.877 3.376.141
14 Renteudgifter 1.888.053 2.046.919 1.939.728 2.090.283
Netto renteindtægter 2.077.815 2.132.884 1.715.149 1.785.858
15. Udbytte af kapitalandele 52.560 33.979 52,560 33.979
Gebyrer og provisionsindtægter 737.082 682.519 611.639 571.072
Afgivne gebyrer og provisionsudgifter 91.336 88.459 54.116 56.097
Netto rente- og gebyrindtægter 2.776.121 2.760.923 2.325.232 2.334.812
16. Kursreguleringer 630.508 -360.844 607.404 -384.622
17. Andre ordinære indtægter 174.877 218.725 89.735 127.752
18 Udgifter til personale og administration 1.828.898 1.606.490 1.591.929 1.385.608
Af- og nedskrivninger på immaterielle
og materielle aktiver 168.148 100.688 117.909 102.002
Andre ordinære udgifter 6.999 5,118 6.972 4.856
Tab og hensættelser på debitorer 258.054 248.842 230.686 222.485
19. Resultat af kapitalandele i associerede og
tilknyttede virksomheder -43.876 52.070 159.085 326.286
Ordinært resultat før skat 1.275.531 709.736 1.233.960 689.277
20 Skat 378.756 198.414 335.724 184.535
Årets resultat 896.775 511.322 898.236 504.742
Heraf:
Minoritetsaktionærernes andel -1.461 6.580
Jyske Banks andel 898.236 504.742
Overskudsfordeling
Årets resultat 898.236 504.742
Overførsler fra tidligere år 0 0
I alt til disposition 898.236 504.742
Anvendt til udbytte 132.000 126.000
Anvendt til andre formål 0 0
Henlagt til egenkapital 766.236 378.742
I alt anvendt 898.236 504.742
16 ÅRSREGNSKAB OG BERETNING 1999
BALANCE PR. 31. DECEMBER 1999
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
AKTIVER
Kassebeholdning og anfordringstilgodehavender hos
centralbanker
Gældsbeviser, der kan refinansieres i centralbanker
8,24 Tilgodehavender hos kreditinstitutter og centralbanker
6,9 Udlån
25,27 Obligationer
26,27 Aktier mv.
28 Kapitalandele i associerede virksomheder mv.
28 Kapitalandele i tilknyttede virksomheder
29 Immaterielle aktiver
30 Materielle aktiver
31 Egne kapitalandele
32 Andre aktiver
Periodeafgrænsningsposter
1.030.325 1.123.988
0 0
11.065.289 6.307.534
49.727.377 39.709.530
16.257.910 18.504.689
3.618.969 1.974.804
114.677 159.154
978 512
0 0
1.280.100 1.421.297
230.917 89.265
9.110.386 7.541.240
57.803 54.271
949.271 1.082.691
0 0
23.244.532 15.168.239
35.499.720 28.792.786
15,.898.657 18.111.247
3.618.884 1.974.723
114.677 159.154
2.156.545 2.101.652
0 0
1.072.559 1.058.863
230.917 89.265
9.018.341 7.555.734
39.049 38.211
7. Aktiver ialt
92.494.731 76.886.284
91.843.152 76.132.565
PASSIVER
10,33 Gæld til kreditinstitutter og centralbanker
11,34 Indlån
12 Udstedte obligationer
35 Andre passiver
Periodeafgrænsningsposter
36 Hensættelser til forpligtelser
37 Efterstillede kapitalindskud
1 Egenkapital
Aktiekapital
Overkurs ved emission
Reserver
Opskrivningshenlæggelser
Overført fra tidligere år
Overført af årets resultat
18.693.144 13.442.250
49.812.997 43.815.921
191.773 622.812
16.606.550 13.141.843
66.260 59.564
307.598 196.892
1.395.030 434.232
825.000 900.000
0 178.307
0 0
99.573 76.714
3.732.031 3.632.427
764.775 385.322
21.425.754 15.401.853
46.896.954 41.514.114
191.773 622.812
16.290.375 12.915.610
1.153 395
251.176 135.682
1.395.030 434.232
825.000 900.000
0 178.307
546.114 513.917
84.088 69.613
3.193.312 3.300.626
742.423 145.404
Egenkapital i alt
Heraf minoritetsaktionærernes andel
5.421.379 5.172.770
30.442 64.903
5.390.937 5.107.867
7 Passiver i alt
92.494.731 76.886.284
91.843.152 76.132.565
IKKE-BALANCEFØRTE POSTER
2-6 Garantier mv.
Andre forpligtelser
12.942.123 11.700.212
1.484.023 1.022.293
22.525.878 19.406.858
1.484.023 1.022.293
Ikke-balanceførte poster i alt
14.426.146 12.722.505
24.009.901 20.429.151
Afledte finansielle instrumenter er specificeret i noteafsnittet side 22-25.
ÅRSREGNSKAB OG BERETNING 1999 17
KONCERNOVERSIGT
(kr. 1.000)
pr. 31. december 1999
Selskabs- Egen- Ejer- Resultat Koncernens Koncernens
kapital kapital andel tilgode- gæld til
ultimo ultimo havenderi — virksom-
virksomheden heden
Jyske Bank A/S DKK 825.000 5.390.937 898.236
Dattervirksomheder, der konsolideres:
Jyske Bank (Gibraltar) Ltd. GBP 26.500 587,532 100% 64.977
Jyske Bank (Gibraltar) Nominees Ltd. GBP 0 2 100% 0
Jyske Bank (Gibraltar) Management Ltd. GBP 0 1 100% 0
Jyske Bank (Gibraltar) Secretaries Ltd. GBP 0 1 100% 0
Frendsetter, S.L., Spanien ESP 117.925 5,266 100% 0
Jyske Bank Nominees Ltd. London GBP 0 l 100% 0
Jyske Bank (Schweiz) CHF 60.000 774.001 100% 45.119
Jyske House ApS DKK 600 11.042 100% 432
Jyske Leasing/Jyske Diskontering A/S DKK 55.000 500.958 100% 80.033
AJS Investeringsselskabet af 29/12 1987 DKK 10.000 43.378 100% 1.615
ApS Leasingselskabet af 30.09.1990 DKK 125 540 100% 1.481
Jyske Ejendomsleasing I A/S DKK 501 689 100% 828
Nordisk Factoring A/S, Søllerød DKK 12.000 60.888 50% -2.921
Factoringselskabet af 27/10 1993 A/S, Søllerød DKK 500 290 100% 9
GI. Skovridergaard A/S DKK 30.000 19,161 100% -14.353
Jyske Ejendomme I A/S DKK 50.000 119.083 100% 13.076
Sundbyvesterhus A/S DKK 518 19.790 100% 1.754
Silkeborg Datacentral A/S DKK 5.080 34.732 100% 11.808
Jyske Bank Data A/S DKK 30.000 58.824 100% 1.577
Dattervirksomheder, der ikke konsolideres:
Investeringsselskabet af 01.04.1993 A/S DKK 500 979 100% 13 0 986
Scala A/S, København DKK 1.000 -22.989 100% -16.430 306.126 144
Associerede virksomheder:
Wessel & Vett Holding A/S, København DKK 278.661 401.416 40% 14.983 50.325 265
Øvrige betydende kapitalandele:
Skan-Rolt Holding A/S, Kjellerup DKK 2.000 5.428 25% 373 0 0
Andre virksomheder, hvori koncernen besidder
mere end 10% af selskabskapitalen:
Vemb Værkstedshuse ApS, Vemb DKK 204 198 16% l
Hads-Ning Herreders Jernbane A/S, Odder DKK 1.050 -16.242 13% -1.173
SIF Fodbold Support A/S DKK 28.160 32.619 18% 1.030
A/S Th. Wessel og Vett Magasin du Nord, København DKK 301.086 2.209.600 19% 74.300
Selskaberne har hjemsted i Silkeborg. hvor intet andet er anført.
18 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
Anden afgang
Aktiekapital 0 0
Overkurs ved emission 0 0
Reserve for nettoopskrivning efter indre værdis metode 0 0
Andre reserver 0 0
Opskrivningshenlæggelser 0 590
Overført resultat 0 0
I alt 0 590
Ultimo
Aktiekapital 825.000 200.000
Overkurs ved emission 0 178.307
Reserve for nettoopskrivning efter indre værdis metode 546.114 513.917
Andre reserver 0 0
Opskrivningshenlæggelser 84.088 69.613
Overført resultat 3.935.735 3.446.030
I alt 5.390.937 5.107.867
Aktiernes antal i 1.000 stk. a kr. 20 41.250 45.000 41.250 45.000
Aktiernes pålydende værdi 825.000 900.000 825.000 900.000
Sølvensopgørelse
Kernekapital efter fradrag 5.090.889 5.006.791 5.075.932 4.948.989
Ansvarlig kapital og kortfristet supplerende kapital
efter fradrag 6.510.492 5.467.737 6.480.050 5.402.834
Vægtede poster uden for handelsbeholdningen 51.683.080 42.720.383 52.199.248 43.500.739
Vægtede poster med markedsrisiko mv. 10.454.374. 10.062.812 10.412.707 10.014.657
Vægtede poster i alt 62.137.454 52.783.195 62.611.955 53.515.396
Kernekapital efter fradrag i procent af vægtede poster i alt 8,2 9,5 8,1 9,2
Sølvensprocent ifølge BSL $ 21, stk, 1 10,5 10,4 10,3 10,1
2 Ikke-balanceførte poster
Garantier mv.
Finansgarantier 3.072.208 3.570.071 12.655.963 11.269.702
Øvrige garantier 9.869.915 3.120.620 9.869.915 8.127.635
Accepter og endossementsforpligtelser mv. 0 9.521 0 9.521
I alt 12.942.123 11.700.212 22.525.878 19.406.858
Andre forpligtelser
Uigenkaldelige kredittilsagn 1.464.978 1.000.812 1.464.978 1.000.812
Uægte salgs- og tilbagekøbsforretninger 0 0 0 0
Øvrige forpligtelser 19.045 21.481 19.045 21.481
I alt 1.484.023 1.022.293 1.484.023 1.022.293
ÅRSREGNSKAB OG BERETNING 1999 21
NOTER
Note
(kr. 1.000)
3 Afledte finansielle instrumenter Til og med 3 måneder
Løbetidsfordeling efter restløbetid
Over 3 måneder
til og med 1 år
Over 1 år og
til og med 5 år
Jyske Bank-koncernen Nominel Netto mar- Nominel Netto mar- Nominel Netto mar-
Ultimo 1999 værdi kedsværdi værdi kedsværdi værdi kedsværdi
Valutakontrakter
Terminer/futures, køb 78.454.512 1.517.179 47.632.081 959.583 1.360.317 61,131
Terminer/futures, salg 73.399.202 -1.011.109 52.306.600 -688.642 600.695 -39.374
Swaps 243.250 -15.893 411.473 -16.658 2.040.332 83.184
Optioner, erhvervede 3.428.470 44.288 350.122 2.272 0 0
Optioner, udstedte 3.446.798 -28.015 456.645 -2.993 0 0
Rentekontrakter
Terminer/futures, køb 8.888.018 -45.289 966.177 -190 0 0
Terminer/futures, salg 2.365.289 19.459 2.902.559 1.272 2.252.765 1.451
Forward Rate Agreements, køb 0 0. 279.371.733 58.907 93.504,937 171.802
Forward Rate Agreements, salg 0 0 278.624.599 -68.755 97.508.214 -195.089
Swaps 26.973.058 -1.520 32.980.689 15.069 23.124.187 -28.722
Optioner, erhvervede 6.898.556 6.727 784.631 1.726 1.166.525 1.305
Optioner, udstedte 7.184.791 -1.125 786.181 -6.008 889.066 -17.997
Aktiekontrakter
Terminer/futures, køb 510,521 35.244 0 0 0 0
Terminer/futures, salg 994.085 -23.251 0 0 Q 0
Optioner, erhvervede 47.453 9.085 351.728 32.440 147.403 3.395
Optioner, udstedte 47.470 -9.085 351.798 "32.454 147.403 -3.395
Råvarekontrakter
Terminer/futures, køb 95.586 15.794 172.560 25.353 48.432 1.443
Terminer/futures, salg 95.586 -15,619 172.560 -24.916 48.432 -1.329
Optioner, erhvervede 1.194 14 Q 0 17.518 3.244
Optioner, udstedte 1.194 -14 0 0 18.184 -3.057
Andre afledte kontrakter 0 0 0 0 0 0
Jyske Bank - Ultimo 1999
Valutakontrakter
Terminer/futures, køb 78.223.735 1.512.889 47.542.185 966.757 1.360.317 61,131
Terminer/futures, salg 73.607.588 -1.017.958 52.400.920 -688.412 600.695 -39.374
Swaps 243.250 -15.893 439.800 -9,.094 2.040.332 83,184
Optioner, erhvervede 3.428.470 44.288 350.122 2.272 0 0
Optioner, udstedte 3.446.798 -28.015 456.645 -2.993 0 0
Rentekontrakter
Terminer/futures, køb 8.888.018 -45.289 966.177 -190 0 Q
Terminer/futures, salg 2.365.289 10.459 2.902.559 1.272 2.252.765 1,451
Forward Rate Agreements, køb 0 0. 279.371.733 58.907 93.504.937 171.802
Forward Rate Agreemenis, salg 0 0 278.624.599 -68.755 97.508.214 -195.089
Swaps 26.973.058 -1.520 33.018.745 14,365 23.200.299 -24.923
Optioner, erhvervede 6.898.556 6.727 784.631 1.726 1.166.525 1.305
Optioner, udstedte 7.184.791 -1.125 786.181 -6.008 889.066 -17.997
Aktiekontrakter
Terminer/futures, køb 510.521 35.244 0 0 0 0
Terminer/futures, salg 994.085 -23.251 0 0 0 0
Optioner, erhvervede 47.453 9.085 351.728 32.440 147.403 3.395
Optioner, udstedte 47.470 -9.085 351.798 -32.454 147.403 -3.395
Råvarekontrakter
Terminer/futures, køb 95.586 15.794 172.560 25.353 48.432 1.443
Terminer/futures, salg 95.586 -15.619 172.560 -24.916 48.432 -1.329
Optioner, erhvervede 1.194 14 0 0 17.518 3.244
Optioner, udstedte 1.194 -14 0 Q 18.184 -3.057
Andre afledte kontrakter 0 0 0 0 0 0
22 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note
(kr. 1.000)
3. Afledte finansielle instrumenter Over 5 år I alt 1999 I alt 1998
Løbetidsfordeling efter restløbetid
Jyske Bank-koncernen Nominel Netto mar- Nominel Netto mar- Nominel Netto mar-
værdi kedsværdi værdi kedsværdi værdi kedsværdi
Valutakontrakter
Terminer/futures, køb 0 0 127.446.910 2.537.893 118.794.672 -1.351.482
Terminer/futures, salg 0 0 126.306.497 -1.739.125. 115.451.000 1.446.581
Swaps 21.679 -5.407 2.716.734 45.226 3.627.211 86.300
Optioner, erhvervede 0 0 3.778.592 46.560 8.602.661 134.338
Optioner, udstedte 0 0 3.903.443 -31.008 11.728.362 -144.400
Rentekontrakter
Terminer/futures, køb 0 0 9.854.195 -45.479 3.014.791 12.017
Terminer/futures, salg 0 0 7.520.613 13.182 14.083.784 89.901
Forward Rate Agreements, køb 0 0 372.876.670 230.709 233.219.462 370.502
Forward Rate Agreements, salg 0 0 376.132.813 -263.844 248.549.774 -388.038
Swaps 19.259.093 -231.554. 102.337.027 -246.727 58.065.800 -563.305
Optioner, erhvervede 0 0 8.849,712 9.758 35.659.649 29.086
Optioner, udstedte 0 0 8.860.038 -25.130 44.700.933 -9,739
Aktiekontrakter
Terminer/futures, køb 0 0 510.521 35.244 329.462 -19.508
Terminer/futures, salg 0 0 994.085 -23.251 551.050 -26.337
Optioner, erhvervede 0 0 546.584 44.920 328.571 27.206
Optioner, udstedte 0 0 546.671 -44.934 300.940 -17.863
Råvarekontrakter
Terminér/futures, køb 0 0 316.578 42.590 185.495 -25.793
Terminer/futures, salg 0 0 316.578 -41.864 185.495 26.381
Optioner, erhvervede 0 0 18.712 3.258 20.332 19
Optioner, udstedte 0 0 19.378 -3.071 20.332 -19
Andre afledte kontrakter 0 0 0 Q 0 0
Netto markedsværdi i alt 544.907 -324.153
Jyske Bank
Valutakontrakter
Terminer/futures, køb 0 0. 127.126.237 2.540.777 118.351.181 -1.346.636
Terminer/futures, salg 0 0 126.609.203 -1.745.744. 115.451.000 1.446.581
Swaps 21.679 -5,407 2.745.061 52.790 3.646.109 91.285
Optioner, erhvervede 0 0 3.778.592 46.560 8.602.661 134.338
Optioner, udstedte 0 0 3.903.443 -31.008 11.728.362 -144.400
Rentekontrakter
Terminer/futures, køb 0 0 9.854.195 -45.479 3.014.791 12.017
Terminer/futures, salg 0 0 7.520.613 13.182 14.083.784 89.901
Forward Rate Agreements, køb 0 0 372.876.670 230.709 233.219.462 370.502
Forward Rate Agreements, salg 0 0 376.132.813 -263.844 248.549.774 -388.038
Swaps 19.259.093 -231.554 102.451.195 -243.632 58.219.701 -555.880
Optioner, erhvervede 0 0 8.849.712 9.758 35.659.649 29.086
Optioner, udstedte 0 0 8.860.038 -25.130 44.700.933 -9.739
Aktiekontrakter
Terminer/futures, køb 0 0 510.521 35.244 329.462 -19.508
Terminer/futures, salg 0 0 994.085 -23.251 551.050 -26.337
Optioner, erhvervede 0 0 546.584 44.920 328.886 27.377
Optioner, udstedte 0 0 546.671 -44.934 302.847 -17.868
Råvarekontrakter
Terminer/futures, køb 0 0 316.578 42.590 185.495 -25.793
Terminer/futures, salg 0 0 316.578 -41.864 185.495 26.381
Optioner, erhvervede 0 0 18.712 3.258 20.332 19
Optioner, udstedte 0 0 19.378 -3.071 20.332 -19
Andre afledte kontrakter 0 0 0 0 0 0
Netto markedsværdi i alt 551.831 -306.731
ÅRSREGNSKAB OG BERETNING 1999 23
NOTER
Note
(kr. 1.000)
4 Afledte finansielle instrumenter
Jyske Bank-koncernen
Markedsværdi 1999
Gennemsnitlig
Markedsværdi 1999
Markedsværdi 1998
Positiv Negativ Positiv Negativ Positiv Negativ
Valutakontrakter
Terminer/futures, køb 3.226.362 688.469 3.495.601 948.248 1.072.672 2.424.154
Terminer/futures, salg 944,644 2.683.769 1.122.429 3.039.628 2.408.736 962.155
Swaps 97.896 52.670 72.030 38,776 117.817 31.517
Optioner, erhvervede 46.560 0 109.289 0 134.338 Q
Optioner, udstedte 0 31.008 0 96.200 0 144.400
Rentekontrakter
Terminer/futures, køb 4.361 49,840 7.108 22.141 12.522 505
Terminer/futures, salg 13.923 741 8.972 5.273 97.790 7.889
Forward Rate Agreements, køb 339.843 109.134 217,527 359.194 470.698 100.196
Forward Rate Agreements, salg 106.615 370.459 341.338 235.905 103.027 491.065
Swaps 702.090 948.817 696.415 1.081.691 650.024 1.213.329
Optioner, erhvervede 9.758 0 17.624 0 29.086 0
Optioner, udstedte 0 25.130 0 20.251 0 9.739
Aktiekontrakter
Terminer/futures, køb 35.244 0 16.365 1.376 646 20.154
Terminer/futures, salg 0 23.251 11.721 10.298 0 26.337
Optioner, erhvervede 44.920 0 33.663 0 27.206 0
Optioner, udstedte Q 44,934 0 33.092 0 17.863
Råvarekontrakter
Terminer/futures, køb 44.312 1.722 30.567 7.948 7.487 33.280
Terminer/futures, salg 1.904 43.768 8.265 30.049 33.780 7.399
Optioner, erhvervede 3.258 0 2.698 0 19 Q
Optioner, udstedte 0 3.071 0 2.555 0 19
Andre afledte kontrakter Q 0 0 0 0 0
I alt 5.621.690 5.076.783 6.191.612 5,932.625 5.165.848 5.490,001
Jyske Bank
Valutakontrakter
Terminer/futures, køb 3.224.214 683.437 3.492.678 941.459 1.068.973 2.415.609
Terminer/futures, salg 944.874 2.690.618 1.122.429 3.039.628 2.408.736 962,155
Swaps 105,460 52.670 72.029 36,283 117.817 26.532
Optioner, erhvervede 46.560 0 109.289 0 134.338 0
Optioner, udstedte 0 31.008 0 96.200 0 144.400
Rentekontrakter
Terminer/futures, køb 4.361 49.840 7.108 22.141 12.522 505
Terminer/futures, salg 13.923 741 8.972 5.273 97.790 7.889
Forward Rate Agreements, køb 339.843 109.134 217.527 359.194 470.698 100.196
Forward Rate Agreements, salg 106.615 370.459 341.338 235.905 103.027 491.065
Swaps 705.889 949,521 695.107 1.076.670 660.065 1.215.945
Optioner, erhvervede 9.758 0 17.624 0 29.086 0
Optioner, udstedte 0 25.130 0 20.251 Q 9.739
Aktiekontrakter
Terminer/futures, køb 35.244 0 16.365 1.376 646 20.154
Terminer/futures, salg 0 23.251 11.721 10.298 0 26.337
Optioner, erhvervede 44.920 0 33.660 Q 27,377 0
Optioner, udstedte 0 44.934 0 33.006 0 17,868
Råvarekontrakter
Terminer/futures, køb 44.312 1.722 30.567 7.948 7,487 33.280
Terminer/futures, salg 1.904 43.768 8.265 30.049 33.780 7.399
Optioner, erhvervede 3.258 0 2.698 0 19 0
Optioner, udstedte 0 3.071 0 2.555 0 19
Andre afledte kontrakter 0 0 0 0 0 0
I alt 5.631.135 5.079.304 6.187.377 5.918.236 5.172.361 5.479.092
24 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000)
5 Afledte finansielle instrumenter Markedsværdi af ikke- Markedværdi af ikke-
garanterede kontrakter garanterede kontrakter
Ultimo 1999 Positiv Negativ Positiv Negativ
Valutakontrakter
Terminer/futures, køb 3.226.362 688.469 3.224.214 683.437
Terminer/futures, salg 944.644 2.683.769 944.874 2.690.618
Swaps 97.896 52.670 105.460 52.670
Optioner, erhvervede 46.560 0 46.560 0
Optioner, udstedte 0 31.008 0 31.008
Rentekontrakter
Terminer/futures, køb 687 1.852 687 1,852
Terminer/futures, salg 8.814 352 8.814 352
Forward Rate Agreements, køb 339.843 109.134 339.843 109.134
Forward Rate Agreements, salg 106.615 370.459 106.615 370.459
Swaps 702.090 948.817 705.889 949.521
Optioner, erhvervede 7.435 0 7.435 0
Optioner, udstedte 0 24.871 0 24.871
Aktiekontrakter
Terminer/futures, køb 30.204 0 30.204 0
Terminer/futures, salg 0 833 Q 833
Optioner, erhvervede 40.304 0 40.304 0
Optioner, udstedte 0 34.408 0 34.408
Råvarekontrakter
Terminer/futures, køb 3 457 3 457
Terminer/futures, salg 1.444 43.765 1.444 43.765
Optioner, erhvervede 3.244 0 3.244 0
Optioner, udstedte 0 3.071 0 3.071
Andre afledte kontrakter 0 0 0 0
I alt 5.556.145 4.993.935 5.565.590 4.996.456
I alt efter netting 5,556.145 5,565.590
Uafviklede spotforretninger
Jyske Bank-koncernen Nominel Markedsværdi Markedsværdi Netto
Ultimo 1999 værdi Positiv Negativ markedsværdi
Valutaforretninger, køb 11.119.739 135.711 23.938 111.773
Valutaforretninger, salg 11.826.067 45.332 36.346 8.986
Renteforretninger, køb 523.035 69 679 -610
Renteforretninger, salg 469.503 1.438 82 1.356
Aktieforretninger, køb 180.010 4.407 950 3.457
Aktieforretninger, salg 201.504 1.204 4.783 -3.579
Andre forretninger, køb 0 0 0 0
Andre forretninger, salg 0 0 0 0
I alt 24.319.858 188.161 66.778 121.383
Ultimo 1998 i alt 12.317.938 16.874 30.673 "13.799
Uafviklede spotforretninger
Jyske Bank Nominel Markedsværdi Markedsværdi Netto
Ultimo 1999 værdi Positiv Negativ markedsværdi
Valutaforretninger, køb 11.004.062 135.470 23.863 111.607
Valutaforretninger, salg 11.826.067 45.332 36.346 8.986
Renteforretninger, køb 523.035 69 679 -610
Renteforretninger, salg 469.503 1.438 82 1.356
Aktieforretninger, køb 180.010 4.407 950 3.457
Aktieforretninger, salg 201.504 1.204 4.783 -3.579
Andre forretninger, køb 0 0 0 0
Andre forretninger, salg Q 0 0 0
I alt 24.204.181 187.920 66.703 121.217
Ultimo 1998 i alt 12.317.938 16.874 30.673 -13.799
ÅRSREGNSKAB OG BERETNING 1999 25
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
Kreditrisici
6 Udlån og garantidebitorer fordelt på sektorer og brancher
Udlån + garantidebitorer i pct. ultimo året
Offentlige myndigheder 1 2 1 1
Erhverv
Landbrug, jagt og skovbrug 6 6 6 6
Fiskeri 0 0 0 0
Fremstillingsvirksomhed, råstofudvinding, el-, gas-, vand- og
varmeværker 8 9 7 8
Bygge- og anlægsvirksomhed 3 3 3 3
Handel, restaurations- og hotelvirksomhed 12 13 11 13
Transport, post og telefon 4 4 3 2
Kredit- og finansieringsvirksomhed samt
forsikringsvirksomhed 7 4 12 8
Ejendomsadministration og -handel, forretningsservice 9 10 15 16
Øvrige erhverv 12 10 10 9
I alt erhverv 61 59 67 65
Private 38 39 32 34
I alt 100 100 100 100
Kreditrisike på afledte finansielle instrumenter
Positiv markedsværdi (efter modpartsrisiko)
Modpart med risikovægt 0 pct.
Positiv markedsværdi efter netting 128.778 50.146 128.778 50.146
Modpart med risikovægt 20 pct.
Positiv markedsværdi efter netting 5.253.629 4.383.919 5.238.081 4.379.163
Modpart med risikovægt 100 pci.
Positiv markedsværdi efter netting 1.043.173 593.724 1.039.809 591.458
Efterstillede tilgodehavender
Associerede virksomheder mv. 0 0 0 0
Tilknyttede virksomheder 85.698 85.698 85.698 85.698
Andre virksomheder 908.429 525.075 908.429 525.075
Akkumulerede hensættelser
Hensat ultimo på udlån og garantidebitorer 1.779.993 1.623.968 1.608.257 1.440.727
Hensat ultimo på tilgodehavender hos kreditinstitutter
og andre poster, der indebærer en kreditrisiko 500 500 500 500
I alt akkumulerede hensættelser 1.780.493 1.624.468 1.608.757 1.441.227
Heraf A-hensættelser 1.619.004 1.479.983 1.508.345 1.363.562
Heraf B-hensættelser 161.489 144.485 100.412 771.665
Akkumulerede hensættelser på udlån og garantidebitorer
i procent af udlån og garantier ultimo året 2,8 3,1 2,7 2,9
Tilgodehavender med standset renteberegning udgør
ultimo året 322.433 320.329 223.104 239.593
26 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
7 Markedsrisici
Valutarisiko
Aktiver i fremmed valuta i alt 28.152.543 17.962.108 26.456.557 16.186.709
Passiver i fremmed valuta i alt 24.752.185 17.283.528 23.064.814 15.500.097
Valutakursindikator 1 1.117.929 1.518.481 1.135.163 1.507.043
Valutakursindikator 1 i pct. af kernekapital efter fradrag 22,0 30,3 22,4 30,5
Valutakursindikator 2 40.136 22.676 40.307 22.292
Valutakursindikator 2 i pct. af kernekapital efter fradrag 0,8 0,5 0,8 0,5
Valutakursindikator 1 viser et mål for den samlede valuta-
risiko og opgøres som den numerisk største værdi af valu-
taer, hvori koncernen har henholdsvis netto tilgodehavende
(lange positioner) og netto gæld (korte positioner).
Valutakursindikator 2 udtrykker med 99% sandsynlighed den
maksimale tabsrisiko over en periode på 10 handelsdage
baseret på den historiske udvikling i de enkelte valutaers
kursudvikling og samvariation de seneste 3 år.
Renterisiko
Renterisiko på gældsinstrumenter mv. i alt 120.453 -138.936 117.983 -131.673
Renterisiko opdelt på bankens valutaer med størst
renterisiko:
Valuta:
DKK 47.106 -5,472 47.020 -5.483
EUR 189.389 -136.183 188.852 -133.171
JPY -131.522 -71.827 -131.193 -71.204
SEK 7.683 3.891 7.683 3.894
NOK 6.299 18.741 6.299 18.741
GRD -4.054 643 -4.054 643
USD 3.774 40.213 3.077 44.178
GBP 1.258 17.537 1.447 17.249
Øvrige valutaer 520 -479 -1.148 -520
I alt 120.453 -138.936 117.983 -131.673
ÅRSREGNSKAB OG BERETNING 1999 27
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr, 1.000) 1999 1998 1999 1998
Løbetidsfordeling efter restløbetid
8 Tilgodehavender hos kreditinstitutter og centralbanker
Anfordringstilgodehavender 4.084.372 1.594.740 3.976.534 1.620.952
Til og med 3 måneder 6.274.454 4.193.412. 13.076.821 9.165.685
Over 3 måneder og til og med 1 år 301.222 114.141 3.703.478 2.322.967
Over 1 år og til og med 5 år 210.990 0 1.196.161 886.516
Over 5 år 194.251 405.241 1.291.538 1.172.119
I alt 11.065.289 6.307.534 23.244.532. 15.168.239
% Udlån
På anfordring 1.194.355 837.338 456.146 159.902
Til og med 3 måneder 19.371.584 21.867.956 11.740.053 17.006.879
Over 3 måneder og til og med 1 år 14.825.339 6.018.851 13.337.775 2.981.942
Over I år og til og med 5 år 11.750.729. 9.145.206 8.028.692. 7.231.236
Over 5 år 2.585.370 1.840.179 1.937.054 1.412.827
I alt 49.727.377. 39.709.530 35.499,720 28.792.786
10 Gæld til kreditinstitutter og centralbanker
Anfordringsgæld 3.901.799 2.207.141 2.017.307 2.823.927
Til og med 3 måneder 12.373.158 8.223.298 15.503.584 9.570.865
Over 3 måneder og til og med I år 384.917 2.022.324 3.313.951 2.088.646
Over I år og til og med 5 år 1.219.231 300.836 3.381 323.538
Over 5 år 814.039 688.651 587.531 594.877
I alt 18.693.144 13.442,.250 21.425.754. 15.401.853
11 Indlån i alt
På anfordring 23.223.005 21.794.456. 21.250.698 20.315.344
Indlån med opsigelsesvarsel:
Til og med 3 måneder 18.056.755 15.045.202 17.322.343 14.336.556
Over 3 måneder og til og med I år 1.428.959 962.212 1.297.846 919.710
Over I år og til og med 5 år 1.849.918 1.859.588 1.748.365 1.708.594
Over 5 år 5.254.360 4.154.463 5.277,702 4.233.910
I alt 49.812.997 43.815.921 46.896.954 41.514.114
12 Udstedte obligationer
Til og med 3 måneder 0 (| 0 0
Over 3 måneder og til og med 1 år 144.613 478.089 144.613 478.089
Over I år og til og med 5 år 22.160 144.723 22.160 144.723
Over 5 år 25.000 0 25.000 0
I alt 191.773 622.812 191.773 622.812
28 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
13 Renteindtægter/terminspræmie af:
Tilgodehavender hos kreditinstitutter og centralbanker 444.551 472.158 750.645 787.946
Udlån 2.837.693 2.842.522 2.236.246 2.252.435
Obligationer 615.805 732.786 591.797 692.556
Afledte finansielle instrumenter i alt 52.980 96.358 61.918 108.251
heraf
Valutakontrakter 145.676 176.764 146.284 177.070
Rentekontrakter -92.696 -80.406 -84.366 -68.819
Aktiekontrakter 0 0 0 0
Råvarekontrakter 0 0 0 0
Andre kontrakter 0 0 0 0
Andet 14.839 35.979 14.271 34.953
I alt 3.965.868 4.179.803 3.654.877 3.876.141
Heraf udgør indtægter af ægte købs- og tilbagesalgs-
forretninger ført under:
Tilgodehavender hos kreditinstitutter og centralbanker 190.324 153.431 190.324 153.431
Udlån 68.891 81.433 68.891 81.433
14 Renteudgifter til:
Kreditinstitutter og centralbanker 477.127 443.641 592.446 555.696
Indlån 1.333.282 1.557.167 1.269.673 1.488.548
Udstedte obligationer 27.014 10.744 27.014 10.744
Efterstillede kapitalindskud 49.871 34.224 49.871 34.224
Andet 759 1.143 724 1.071
I alt 1.888.053 2.046.919 1.939.728 2.090.283
Heraf udgør renteudgifter af ægte salgs- og tilbagekøbsfor-
retninger ført under:
Kreditinstitutter og centralbanker 150.383 166.491 150.383 166.491
Indlån 8.220 4.315 8.220 4.315
15 Udbytte af:
Aktier 50.416 32.036 50.416 32.036
Kapitalandele i associerede virksomheder mv. 2.144 1.943 2.144 1.943
Kapitalandele i tilknyttede virksomheder 0 0 0 0
I alt 52.560 33.979 52.560 33.979
ÅRSREGNSKAB OG BERETNING 1999 29
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
16 Kursreguleringer ” af:
Obligationer 207.042 -180.475 206.960 -179.939
Aktier 1.435.613 222.158 1.435.613 222.158
Fastforrentede udlån -101.078 48.982 -100.456 49.088
Valuta 172.585 43.982 145.398 16.024
Afledte finansielle instrumenter i alt 210.650 -332.785 214.193 -329.247
heraf
Valutakontrakter 22 -15.119 3.565 -11.581
Rentekontrakter 155.301 -209.054 155.301 -209.054
Aktiekontrakter 53.382 -109.248 53.382 -109.248
Råvarekontrakter 1.945 636 1.945 636
Andre kontrakter 0 0 0 0
I alt 1.924.812 -198.138 1.901.708 -221.916
Heraf puljeordninger 1.294.304 162.706 1.294.304 162.706
1) Underposterne indeholder også kursregulering af værdipapirer, der indgår i puljeordninger. Der korrigeres
for disse kursreguleringer under posten puljeordninger i nederste linie.
Kursreguleringsposter opgjort eksklusive puljeordningerne:
Obligationer 312.359 -192.602 312.277 -192.066
Aktier 186.623 32.017 186.623 32.017
Fastforrentede udlån -101.078 48.982 -100.456 49.088
Valuta 21.954 75.347 -5.233 47.389
Afledte finansielle instrumenter i alt 210.650 -324.588 214.193 -321.050
I alt 630.508 -360.844 607.404 -384.622
17 Andre ordinære indtægter
Nettoresultat af drift af fast ejendom 38.340 53.508 35.348 51.004
Fortjeneste ved salg af ejendomme og drifismidler 19.723 16.725 1.263 4.279
Momsrefusion vedr. tidligere år 6.392 31.423 6.392 31.423
Øvrige ordinære indtægter 110.422 117.069 46.732 41.046
I alt 174.877 218.725 89.735 127.752
30 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
18 Udgifter til personale og administration
Lønninger og vederlag til bestyrelse, direktion og
repræsentantskab
Direktion 6.898 7.765 6.898 7.765
Bestyrelse 862 845 862 845
Repræsentantskab 1.209 1.513 1.209 1.513
I alt 8.969 10.123 8.969 10.123
Personaleudgifter
Lønninger 958.898 861.427 857.147 763.939
Pensioner 75.994 68.096 69.314 60.963
Udgifter til social sikring 86.261 79.459 82.012 75.573
I alt 1.121.153 1.008.982 1.008.473 900.475
Øvrige administrationsudgifter 698.776 587.385 574.487 475.010
I alt udgifter til personale og administration 1.828.898 1.606.490 1.591.929 1.385.608
Øvrige administrationsudgifter
Edb-udgifter 128.095 101.925 153.856 120.457
Husleje, lys og varme mv. 107.915 118.728 99.228 110.157
Porto, telefon mv. 71.290 66.042 63.189 59,559
Øvrige administrationsudgifter 391.476 300.690 258.214 184.837
I alt 698.776 587.385 574.487 475.010
19 Resultat af kapitalandele i associerede og til-
knyttede virksomheder
Resultat af kapitalinteresser i associerede
virksomheder mv. -44.342 52.458 -44.342 52.458
Resultat af kapitalinteresser i tilknyttede virksomheder 466 -388 203.427 273.828
I alt -43.876 52.070 159.085 326.286
20 Skat
Beregnet skat af årets indkomst 274.982 156.993 227.167 131.000
Udskudt skat 110.217 47.300 115.000 60.000
Efterregulering af tidligere års beregnet skat -6.443 -5,879 -6.443 -6.465
I alt 378.756 198.414 335.724 184.535
ÅRSREGNSKAB OG BERETNING 1999 31
NOTER
21
22
23
24
25
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
Direktion, bestyrelse og repræsentantskab
Størrelsen af lån, pant, kaution eller garantier samt tilhørende
sikkerhedsstillelser stiftet for nedennævnte ledelsesmedlemmer
i banken
Lån mv.
Direktion 1.843 4.873 1,843 4.873
Bestyrelse 25.815 10.526 25.815 10.526
Repræsentantskab 247.649 281.829 247.649 281.829
Sikkerhedsstillelser
Direktion 524 524
Bestyrelse 16.367 16.367
Revisionshonorar
Samlet honorar til Jyske Bank A/S's generalforsamlings-
valgte revisorer samt til lokalt valgte revisorer i uden-
landske enheder 6.181 4.187 2.445 2.353
Heraf udgør andre ydelser end revision 3.241 1.181 823 705
Ud over honorar til generalforsamlingsvalgte revisorer er
der afholdt udgifter til bankens interne revisionsafdeling
Antal beskæftigede
Det gennemsnitlige antal beskæftigede i regnskabsåret
omregnet til heltidsbeskæftigede:
Antal beskæftigede i virksomheder, der indgår i
koncernregnskabet 2.831 2.682 2.532 2.380
Antal beskæftigede i dattervirksomheder, der ikke indgår
i koncernregnskabet 14 17 0 0
I alt 2.845 2.699 2.532 2.380
Tilgodehavender hos kreditinstitutter og centralbanker
Tilgodehavender på opsigelse hos centralbanker 3.301.564 801.298 3.301.564 801.298
Tilgodehavender hos kreditinstitutter 7.763.725. 5.506.236 19.942.968 14.366.941
I alt 11.065.289 6.307.534 23.244.532 15.168.239
Obligationer
Børsnoterede 16.091.832 18.005,669 15.732.579 17.612.227
Andre 166.078 499.020 166.078 499.020
I alt 16.257.910 18.504.689 15.898.657 18.111.247
Heraf egne obligationer 4.711 1.030 4.711 1.030
Banken har deponeret obligationer hos Nationalbanken,
Værdipapircentralen, Garantifonden for Danske Optioner
og Futures samt udenlandske clearingscentraler mv.
i forbindelse med clearing, marginstillelse og fondsafvikling,
med en samlet kursværdi på 6.265.180 5.449.802
32 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
26 Aktier mv.
Børsnoterede 3.553,436 1.923.878 3.553.436 1.923.878
Andre aktier 65.501 50.897 65.448 50.845
Øvrige kapitalandele 32 29 0 0
I alt 3.618.969 1.974.804 3.618.884 1.974.723
27 Finansielle omsætningsaktiver
Finansielle omsætningsaktiver værdiansat til markedsværdi 19.643.427 19.929.207 19.284.174 19.535.765
Forskellen mellem købsprisen på finansielle omsætnings-
aktiver værdiansat til markedsværdi og den højere
markedsværdi på opgørelsestidspunktet 988.924 394.653 986.824 392.610
Finansielle omsætningsaktiver, der ikke er værdiansat
til markedsværdi 196.005 514.045 195.920 513.964
Forskellen mellem købsprisen på finansielle omsæt-
ningsaktiver, der ikke er værdiansat til markedsværdi,
og den højere markedsværdi på opgørelsestidspunktet 4.266 12.649 4.266 12.649
28 Finansielle anlægsaktiver 1999
Jyske Bank-koncernen Jyske Bank
Tilknyttede Associerede Øvrige Tilknyttede Associerede Øvrige
virksom- virksomheder kapital- virksom- virksomheder kapital-
heder og øvrige andele heder og øvrige andele
betydende betydende
kapitalandele kapitalandele
Samlet anskaffelsespris primo 1.540 242.242 36.241 2.004.971 180.641 36.241
Valutakursregulering 0 0 0 59.084 0 0
Tilgang 0 0 1.206 0 0 1.206
Afgang 0 370 0 30.453 370 0
Samlet anskaffelsespris ultimo 1.540 241.872 37.447 2.033.602 180.271 37.447
Op- og nedskrivninger primo -1.028 "83.088 0 96.681 -21.487 0
Valutakursregulering 0 0 0 3.613 0 0
Resultat 466 96 -— 203.427 96 -
Udbytte 0 2.144 -— 207.365 2.144 -—
Forskelsværdi ved anskaffelse 0 0 — 0 0 —
Andre kapitalbevægelser 0 0 0 26.587 0 0
Årets op- og nedskrivninger - -42.429 0 = -42.429 0
Tilbageførte op- og nedskrivninger — 370 0 — 370 0
Op- og nedskrivninger ultimo -562 -127.195 0 122.943 -65.594 0
Kapitalandele i modervirksomheder 0 0 -— 0 0 —
Bogført beholdning ultimo 978 114.677 37.447 2.156.545 114.677 37.447
heraf kreditinstitutter 0 0 0 1.361.533 0 0
Bogført værdi primo 512 159.154 36.241 2.101.652 159.154 36.241
heraf kreditinstitutter 0 0 0 1.309.106 0 0
Værdien af aktier eller andre kapitalandele
erhvervet som led i medvirken ved omstruk-
tureringer af erhvervsvirksomheder, jf. bank-
og sparekasselovens $ 1a, stk. 1, udgør 978 978
ÅRSREGNSKAB OG BERETNING 1999 33
NOTER
Note
(kr. 1.000)
29 Immaterielle aktiver 1999
Jyske Bank-koncernen
Jyske Bank
Goodwill Øvrige I alt Goodwill Øvrige I alt
Samlet anskaffelsespris primo 0 0 0 0 0 0
Valutakursregulering 0 0 0 0 0 0
Tilgang 0 0 0 0 (1 0
Afgang 0 0 0 0 0 0
Samlet anskaffelsespris ultimo 0 0 0 0 0 0
Af- og nedskrivninger primo
Valutakursregulering 0 0 0 Q 0 0
Årets afskrivninger 0 0 0 0 0 0
Årets nedskrivninger 0 0 0 0 0 0
Tilbageførte af- og nedskrivninger 0 0 0 0 0 0
Af- og nedskrivninger ultimo 0 0 0 0 0 0
Bogført beholdning ultimo 0 0 0 0 0 0
Bogført værdi primo 0 0 0 0 0 0
Udgiftsført i anskaffelsesåret 0 0 0 0 0 0
30 Materielle aktiver 1999 Jyske Bank-koncernen Jyske Bank
Grunde og Drifts- Ialt Grunde og Drifts- I alt
ejendomme midler ejendomme midler
Samlet anskaffelsespris primo 1.427.957 201.076 1.629.033 1.022.190 77.106 1.099.296
Valutakursregulering 20.577 1.268 21.845 830 0 830
Tilgang 41.515 40.139 81.654 41.118 9.586 50.704
Afgang 229.848 4.149 233.997 38.878 226 39.104
Samlet anskaffelsespris ultimo 1.260.201 238.334 1.498.535 1.025.260 86.466 1.111.726
Ejendomsopskrivninger primo 133.805 — 133.805 127.412 — 127.412
Valutakursregulering 0 — 0 0 -— 0
Årets opskrivninger 22.859 = 22.859 14.475 - 14.475
Årets tilbageførte opskrivninger 302 — 302 302 - 302
Ejendomsopskrivninger ultimo 156.362 -— 156.362 141.585 — 141.585
Af- og nedskrivninger primo 200.423 141.118 341.541 119.237 48.608 167.845
Valutakursregulering 8.233 1.186 9.419 0 0 0
Årets afskrivninger 5.915 34.127 40.042 4.752 10.688 15,440
Årets nedskrivninger 22.807 0 22.807 7.321 0 7,321
Tilbageførte af- og nedskrivninger 35.465 3.547 39.012 9.628 226 9.854
Af- og nedskrivninger ultimo 201.913 172.884 374.797 121.682 59.070 180.752
Bogført beholdning ultimo 1.214.650 65.450 1.280.100 1.045.163 27.396 1.072.559
Bogført værdi primo 1.361.339 59,958 1.421.297 1.030.365 28.498 1.058.863
Seneste off. ejendomsvurdering 1.140.178 -— — 959.419 — —
Årets straksafskrivning på driftsmidler — 104.997 104.997 -— 94.846 94.846
JÅ ÅRSREGNSKAB OG BERETNING 1999
NOTER
31
32
33
34
35
36
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
Egne kapitalandele
Nominel beholdning af egne kapitalandele 30.985 14.559 30.985 14,559
i pct. af aktiekapitalen 3,76 1,62 3,76 1,62
Andre aktiver
Positiv markedsværdi af afledte finansielle instrumenter 5.809.851 5.182.722 5.819.055 5.189.235
Forskellige debitorer 716.006 560.739 607.883 501.364
Tilgodehavende renter og provision 2.572.817 1.780.551 2.583.874 1.856.410
Øvrige aktiver 11.712 17.228 7.529 8.725
I alt 9.110.386 7.541.240 9.018.341 7.555.734
Gæld til kreditinstitutter og centralbanker
Gæld til centralbanker 5.434.701 3.829.993 5.434.701 3.829.993
Gæld til kreditinstitutter 13,258.443 9.612.257. 15.991.053 11.571.860
I alt 18.693.144 13.442.250 21.425.754 15.401.853
Indlån
På anfordring 23.223.005 21.794.456 21.250.698 20.315.345
Med opsigelsesvarsel 2.037.965 1.733.037 1.699.133 1.496.225
Tidsindskud 14.733.559. 11.856.730 14.128.655 11.270.846
Særlige indlånsformer 9.818.468 8.431.698 9.818.468 8.431.698
I alt 49.812.997 43.815.921 46.896.954 41.514.114
Andre passiver
Modpost til negative obligationsbeholdninger
ifm, repo-/reverseforretninger 6.430.403 4.009.630 6.430.403 4.009.630
Forskellige kreditorer 2.294.863 1.462.056 2.177.106 1.527.620
Skyldig skat af årets indkomst 49151 20.207 0 0
Negativ værdi af finansielle instrumenter 5.143.561 5.520.674 5.146.007 5.509.765
Årets udbytte af aktiekapital 132.000 126.000 132.000 126.000
Skyldige renter og provision 2.395.680 1.865.699 2.332.253 1.663.974
Øvrige passiver 160.892 137.577 72.606 78.621
I alt 16.606.550 13.141.843 16.290.375 12.915.610
Hensættelser til forpligtelser
Hensættelser til pensioner og lignende forpligtelser 12.976 12.482 12.976 12.482
Hensættelser til udskudt skat 294.622 184.410 238.200 123.200
Øvrige hensættelser til forpligtelser 0 0 0 0
I alt 307.598 196.892 251.176 135.682
Salg af aktiver til de bogførte værdier vil ikke udløse skat
ud over den i balancen afsatte udskudte skat.
ÅRSREGNSKAB OG BERETNING 1999 35
NOTER
No
37
38
te Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
Efterstillede kapitalindskud
Supplerende kapital:
10,89% Supplerende kapital — DKK 125 mio. 28.07.2005 125.000 125.000 125.000 125.000
10,00% Obligationslån DKK 100 mio. 03.01.2000 100.000 100.000 100.000 100.000
5,25% Kapitalindskud DKK 219 mio. 01.10.2003 218.596 209.232 218.596 209.232
Var. % Obligationslån EUR 25 mio. 05.05.2009 186.080 0 186.080 0
Var.% Obligationslån USD 33 mio. 28.06.2005 244.160 0 244.160 0
5,00% Obligationslån EUR 5 mio. 29.06.2006 37.216 0 37.216 0
6,00% Obligationslån EUR 8 mio. 28.07.2006 59.546 0 59.546 0
6,41% Obligationslån EUR 10 mio. 12.11.2009 74.432 0 74.432 0
6,10% Obligationslån DKK 350 mio. 06.03.2006 350.000 0 350.000 0
I alt 1.395.030 434.232 1.395.030 434.232
Efterstillede kapitalindskud, som kan medregnes i
solvensopgørelsen 1.320.030 384.232 1.320.030 384.232
Ægte salgs- og tilbagekøbsforretninger samt ægte
købs- og tilbagesalgsforretninger
Af nedenstående aktivposter udgør ægte købs- og
tilbagesalgsforretninger følgende:
Tilgodehavender hos kreditinstitutter og
centralbanker 5.592.758 3.385.541 5.592.758 3.385.541
Udlån 3.481.437 1.782.191 3.481.437 1.782.191
Af nedenstående passivposter udgør ægte salgs- og
tilbagekøbsforretninger følgende:
Gæld til kreditinstitutter og centralbanker 3.258.542 4.420.146 3.258.542 4.420.146
Indlån 624.029 101.700 624.029 101.700
Aktiver solgt som led i ægte salgs- og tilbagekøbs-
forretninger:
Aktivpost
Obligationer 6.112.940 4.454.656 6.112.940 4.454.656
Aktier 41 0 41 0
36 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
39 Mellemværender med tilknyttede og associerede virksomheder
my. i koncernen
Tilknyttede virksomheder
Aktivpost
Tilgodehavender hos kreditinstitutter og centralbanker 0 0 12.338.592 8.908.578
Udlån 306.126 304.049 5.480.167 4.455.732
I alt 306.126 304.049 17.818.759. 13.364.310
Passivpost
Gæld til kreditinstitutter 0 0 2.887.809 2.207.339
Indlån 1.130 1.337 195.140 199.083
I alt 1.130 1.337 3.082.949 2.406.422
Associerede virksomheder samt virksomheder, hvori
instituttet har øvrige betydende kapitalandele
Aktivpost
Udlån 50.325 53.541 50.325 53.616
I alt 50.325 53.541 50.325 53.616
Passivpost
Indlån 265 3.219 265 3.219
I alt 265 3.219 265 3.219
40. Driftsposter fra udenlandske afdelinger og
dattervirksomheder
Renteindtægter, udbytteindtægter, gebyrer og provisions-
indtægter, kursreguleringer og andre ordinære indtægter
i alt:
England 98.809 86.507 98.809 86.507
Tyskland 30.464 35.242 30.464 35.242
Schweiz 181.306 155.845 56.612 74.239
Gibraltar 376.765 291.020 248.551 240.705
Spanien 0 59 0 7
I alt 687.344 568.673 434.436 436.700
ÅRSREGNSKAB OG BERETNING 1999 37
NOTER
41
Note Jyske Bank-koncernen Jyske Bank
(kr. 1.000) 1999 1998 1999 1998
Fastforrentede aktiver og passiver samt finansielle
instrumenter, som ikke kursreguleres
Jyske Bank foretager løbende afdækning af renterisikoen på
fastforrentede aktiver og passiver. Ifølge regnskabsreg-
lerne kan fastforrentede aktiver ikke opskrives til en
højere værdi end købsprisen reguleret for løbetidsfor-
kortelse, og fastforrentede passiver må ikke kursreguleres.
I medfør af regnskabsreglerne og for at opnå symmetrisk
regnskabsmæssig behandling undlades kursregulering af føl-
gende finansielle instrumenter, der er indgået til afdæk-
ning af renterisikoen på følgende fastforrentede aktiver
og passiver.
Aktiver:
Obligationer:
Nominel værdi 116.608 450.967
Købspris 116.973 451.480
Bogført værdi 116.973 451.480
Markedsværdi 121.793 431.710
Finansielle instrumenter:
Nominel værdi af swaps 116.608 450.967
Markedsværdi af swaps -4.820 19.771
Passiver:
Indlån:
Nominel værdi 209.630 183.575
Bogført værdi 209.630 183.575
Markedsværdi 209.750 186.430
Efterstillede kapitalindskud:
Nominel værdi 171.194 100.000
Bogført værdi 171.194 100.000
Markedsværdi 172.186 107.959
Udstedte obligationer:
Nominel værdi 140.807 0
Bogført værdi 140.807 0
Markedsværdi 141.387 0
Finansielle instrumenter:
Nominel værdi af swaps 521.631 283.575
Markedsværdi af swaps 1.692 10.813
Såfremt regnskabsreglerne havde tilladt fuld
kursregulering af alle fastforrentede aktiver og
passiver, ville årsresultatet have været påvirket med -68.500 23.500
En opgørelse af disse forretninger ultimo regnskabsåret
viser en samlet positiv værdi, som banken ville kunne
indtægtsføre, på 48.400 116.900
38 ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank
(kr. 1.000) 1999 1998
42 Oplysninger vedrørende puljeordninger
Resultatopgørelse for banken ekskl. puljeordninger:
Renteindtægter 3.522.226 3.754.341
Renteudgifter 1.779.208 1.948.820
Netto renteindtægter 1.743.018 1.805.521
Udbytte af kapitalandele 24.691 14.316
Gebyrer og provisionsindtægter 611.639 571.072
Afgivne gebyrer og provisionsudgifter 54.116 56.097
Netto rente- og gebyrindtægter 2.325.232 2.334.812
Kursreguleringer 607.404 -384.622
Andre ordinære indtægter 89.735 127.752
Udgifter til personale og administration 1.591.929 1.385.608
Af- og nedskrivninger på immaterielle og materielle aktiver 117.909 102.002
Andre ordinære udgifter 6.972 4.856
Tab og hensættelser på debitorer 230.686 222.485
Resultat af kapitalandele i associerede og tilknyttede
virksomheder 159.085 326.286
Ordinært resultat før skat 1.233.960 689.277
Skat 335.724 184.535
Årets resultat 898.236 504.742
Noter til resultatopgørelsen
Renteindtægter/terminspræmie af:
Tilgodehavender hos kreditinstitutter og centralbanker 750.645 787.946
Udlån 2.236.246 2.252.435
Obligationer 459.146 570.756
Afledte finansielle instrumenter i alt 61.918 108.251
Andet 14.271 34.953
Renteudgifter til:
Indlån 1.109,1533 1.347.085
Kursregulering af:
Obligationer 312.277 -192.066
Aktier 186.623 32.017
Fastforrentede udlån -100.456 49.088
Valuta -5.233 47.389
Afledte finansielle instrumenter 214.193 -321.050
ÅRSREGNSKAB OG BERETNING
1999 39
NOTER
Note Jyske Bank
(kr. 1.000) 1999 1998
43 Oplysninger vedrørende puljeordninger.
Balance og ikke-balanceførte poster ekskl. puljeordninger ultimo regnskabsåret:
AKTIVER
Kassebeholdning og anfordringstilgodehavender hos
centralbanker 949.271 1.082.691
Gældsbeviser, der kan refinansieres i centralbanker 0 0
Tilgodehavender hos kreditinstituiter og centralbanker 23.244.532 15.168.239
Udlån 35.499.720 28.792.786
Obligationer 13.048.411 15.730.094
Aktier mv. 507.855 247.264
Kapitalandele i associerede virksomheder mv. 114.677 159.154
Kapitalandele i tilknyttede virksomheder 2.156.545 2.101.652
Immaterielle aktiver 0 0
Materielle aktiver 1.072.559 1.058.863
Egne kapitalandele 230.917 89.265
Andre aktiver 8.947.605 7.514.937
Periodeafgrænsningsposter 39.049 38.211
Aktiver i alt 85.811.141 71.983.156
PASSIVER
Gæld til kreditinstitutter og centralbanker 21.425.754 15.401.853
Indlån 40.893.291 37.367.175
Udstedte obligationer 191.773 622.812
Andre passiver 16.262.027 12.913.140
Periodeafgrænsningsposter 1.153 395
Hensættelser til forpligtelser 251.176 135.682
Efterstillede kapitalindskud 1.395.030 434.232
Egenkapital 5.390.937 5.107.867
Passiver i alt 85.811.141 71.983.156
IKKE-BALANCEFØRTE POSTER
Garantier mv. 22.525.878 19.406.858
Andre forpligtelser 1.484.023 1.022.293
Ikke-balanceførte poster i alt 24.009.901 20.429.151
Noter
+ Heraf kontantindestående fra puljeordninger 213.754 174.690
ÅQ ÅRSREGNSKAB OG BERETNING 1999
NOTER
Note Jyske Bank
(kr. 1.000) 1999 1999 1999 1998
45. Puljepensionsordninger Børne- Bolig-
Pensions- opsparings- opsparings- Pensions-
puljer puljer puljer puljer
Resultatopgørelse
Renteindtægter/terminspræmie af:
Kontantindestående 3.850 39 0 3.794
Indeksobligationer 38.273 168 0 44.281
Øvrige obligationer 93.158 1.052 0 77.519
Afledte finansielle instrumenter 0 0 0 0
I alt 135.281 1.259 0 125.594
Udbytte af:
Aktier mv, 27.618 251 0 19.663
Investeringsforeningsandele 0 0 0 0
I alt 27.618 251 0 19.663
Kursreguleringer af:
Indeksobligationer -18.033 -76 0 7.881
Øvrige obligationer mv. -86.219 -989 0 4.246
Aktier mv. 1.237.160 11.830 0 190.141
Investeringsforeningsandele 0 0 0 0
Valuta 149.097 1.534 0 -31.365
Afledte finansielle instrumenter 0 0 0 -8.197
Kapitalinteresser 0 9 0 0
I alt 1.282.005 12.299 0 162.706
Gebyrer og provisionsudgifter 15.239 173 0 8.233
Puljernes resultat 1.429.665 13.636 0 299.730
Aktiver
Kontantindestående 210.591 3.163 0 174.690
Indeksobligationer 1.042.089 4.771 0 1.077.539
Øvrige obligationer 1.783.207 20.179 0 1.303.614
Egne aktier 0 0 0 0
Øvrige aktier mv. 3.080.694 30.335 0 1.727.459
Investeringsforeningsandele 0 0 0 0
Kapitalandele i associerede og tilknyttede virksomheder 0 0 0 0
Andre aktiver 70.017 719 0 40.797
Periodeafgrænsningsposter 0 0 0 0
Aktiver i alt 6.186.598 59.167 0 4.324.099
Passiver
Samlet indlån 6.158.447 58.970 0 4.321.629
Andre passiver 28.151 197 0 2.470
Periodeafgrænsningsposter 0 0 0 0
Passiver i alt 6.186.598 59,167 0 4.324.099
Gennemsnitligt indlån 4.387.331 38.838 0 3.841.566
ÅRSREGNSKAB OG BERETNING 1999 41
NOTER
LEDELSESHVERV
Bestyrelsesmedlemmers ledelseshverv i danske aktieselskaber pr. 31.12.1999
Direktør Niels Erik Carstens
» Bestyrelsesmedlem og direktør for Aktieselskabet af 30.03.1993, Nørresundby
… Bestyrelsesmedlem i Thomas Christensen Aalborg A/S, Nørresundby
: Bestyrelsesmedlem i Henning Olsen Holding A/S, Nørresundby
. Bestyrelsesmedlem i H.O. Maskinudlejning A/S, Nørresundby
s Bestyrelsesmedlem og direktør for Frejlev Byggeselskab A/S, Nørresundby
Adm. direktør Aksel Nielsen
… Bestyrelsesmedlem i Å. Gramkow A/S, Sønderborg
+ Bestyrelsesmedlem i Dansk Udviklingsfinansiering A/S, Søborg
Direktionsmedlemmers ledelseshverv i erhvervsdrivende selskaber pr. 31.12.1999
Leif F. Larsen
« Bestyrelsesmedlem i Pengeinstitutternes BetalingsSystemer A/S
+ Bestyrelsesformand for Jyske Ejendomme I A/S
. Bestyrelsesformand for Sundbyvesterhus AJS
& Bestyrelsesformand for Jyske House ApS
« Bestyrelsesformand for Silkeborg Datacentral A/S
… Bestyrelsesformand for Gl. Skovridergaard A/S
Visti Nielsen
« Bestyrelsesmedlem i TOTALKREDIT Realkreditfond
… Bestyrelsesmedlem i Dansk Landbrugs Realkreditfond
. Bestyrelsesmediem i Nordisk Factoring A/S
s Bestyrelsesmedlem i Jyske Bank (Schweiz)
. Bestyrelsesmedlem i Jyske Bank (Gibraltar) Ltd.
Bestyrelsesmedlem i Jyske Leasing/Jyske Diskontering A/S
. Bestyrelsesmedlem i A/S Investeringsselskabet af 29/12 1987
… Bestyrelsesmediem i Jyske Ejendomsleasing I A/S
42. ÅRSREGNSKAB OG BERETNING 1999
FINANSIERINGSANALYSE
KAPITALFREMSKAFFELSE
Jyske Bank-koncernen
(kr. 1.000) 1999 1998
Drift:
Årets resultat 896.775 511.322
Af- og nedskrivninger på immaterielle og materielle aktiver 168.148 100.688
Tab og hensættelser på debitorer 258.054 248.842
Udbytte til aktionærer -132.000 -126.000
Kapitalfremskaffelse via driften 1.190.977 734.852
Fremmedkapital:
Ændring i gæld til kreditinstitutter, netto 493.139 2.087.434
Ændring i indlån 5.997.076 2.359.340
Ændring i udstedte obligationer -431.039 622.812
Ændring i øvrige passivposter 3.582.109 6.444.785
Ændring i efterstillede kapitalindskud 960.798 9.131
Fremmedfinansiering i alt 10.602.083 11.523.502
Kapitalfremskaffelse i alt 11.793.060 12.258.354
KAPITALANVENDELSE
Jyske Bank-koncernen
(kr. 1.000) 1999 1998
Egenkapital:
Kapitalnedsættelse 506.025 0
Ændring af minøoritetsinteresser 33.000 0
Egenkapital i alt 539.025 0
Øvrig kapitalanvendelse:
Ændring i kassebeholdning mv. -93.663 577.091
Ændring i udlån 10.275.901 3.401.158
Ændring i obligationsbeholdning -2.246.779 2.671.287
Ændring i aktiebeholdning 1.644.165 41.107
Ændring i kapitalandele i associerede og tilknyttede virksomheder -44.011 51.430
Ændring i immaterielle og materielle aktiver 4.092 98.768
Ændring i øvrige aktivposter 1.714.330. 5.417.513
Øvrig kapitalanvendelse i alt 11.254.035 12.258.354
Kapitalanvendelse i alt 11.793.060 12,.258.354
Fondsbørsens krav om finansieringsanalyse for børsnoterede selskaber er ikke egnet til pengeinstitutter, hvorfor
finansieringsanalysen er opstillet i tillempet form efter den særlige regnskabsopstilling for pengeinstitutter.
Ændring i obligations- og aktiebeholdningen er inklusive årets kursreguleringer.
Ændring i udlån er reguleret for tab og hensættelser.
Ændring i aktivposterne immaterielle og materielle aktiver er reguleret for af- og nedskrivninger, tilbageførte af-
og nedskrivninger på ejendomme samt ejendomsopskrivninger og tilbageførte ejendomsopskrivninger.
ÅRSREGNSKAB OG BERETNING 1999 43
FINANSTILSYNETS NØGLETALSSYSTEM
JYSKE BANK - KONCERNEN
%-andel
1999 1998 1997 1996 1995
1. Solvensprocent 10,5 10,4 10,7 12,2 13,0
2. Kernekapitalprocent 8,2 9,5 9,8 10,7 10,7
3. Egenkapitalforrentning før skat 24,1 14,3 12,7 22,8 22,3
4. Egenkapitalforrentning efter skat 16,9 10,3 9,6 15,5 21,5
5, Indtjening pr. omkostningskrone (kr.) 1,56 1,36 1,27 1,49 1,36
6. Renterisiko 2,3 -2,8 -2,3 2,7 4,0
7. Valutaposition 22,0 30,3 18,1 9,6 17,8
8. Valutarisiko 0,8 0,5 0,2 0,1 0,3
9. Overdækning i forhold til lovkrav om likviditet 79,0 81,4 138,3 149,8 155,6
10. Summen af store engagementer 165,2 137,7 126,0 88,2 129,8
11. Hensættelsesprocent 2,8 3,1 3,1 3,2 3,3
12. Årets tabs- og hensættelsesprocent 0,4 0,5 0,7 0,8 1,0
13. Årets udlånsvækst 25,2 8,6 14,4 8,6 10,0
14. Udlån ift. egenkapital 9,2 7,7 7,7 7,2 7,6
£. Egenkapitalforrentning er beregnet på grundlag af gennemsnitlig egenkapital.
ÅÅ ÅRSREGNSKAB OG BERETNING 1999
FINANSTILSYNETS NØGLETALSSYSTEM
JYSKE BANK A/S
%-andel
1999 1998 1997 1996 1995
1. Solvensproceni 10,3 10,1 10,4 11,7 12,4
2. Kernekapitalprocent 8,1 9,2 9,4 10,4 10,2
3. Egenkapitalforrentning før skat 23,5 14,0 12,1 20,3 21,7
4. Egenkapitalforrentning efter skat 17,1 10,3 9,6 15,6 21,7
5. Indtjening pr. omkostningskrone (kr.) 1,63 1,40 1,30 1,51 1,44
6. Renterisiko 2,3 -2,7 -2,2 2,8 4,0
7. Valutaposition 22,4 30,5 18,0 9,1 18,0
8. Valutarisiko 0,8 0,5 0,2 0,1 0,3
9. Udlån plus hensættelser herpå ift. indlån 79,1 72,8 70,5 65,2 64,0
10. Overdækning i forhold til lovkrav om likviditet 58,7 55,8 105,6 115,1 112,2
11. Summen af store engagementer 163,7 137,7 127,4 88,8 130,7
12. Andel af tilgodehavender med nedsat rente 0,4 0,5 0,5 0,9 1,5
13. Hensættelsesprocent 2,7 2,9 2,9 3,0 3,1
14. Årets tabs- og hensættelsesprocent 0,4 0,4 0,7 0,8 0,9
15. Årets udlånsvækst 23,3 8,3 14,1 9,2 16,2
16. Udlån ift. egenkapital 6,6 5,6 5,6 5,3 5,6
17. Årets resultat pr. aktie (kr.) ++ 104,1 56,1 48,4 71,1 89,3
18. Indre værdi pr. aktie (kr.) ++ 653 568 524 487 425
19. Udbytte pr. aktie (kr.) ++ 16 14 12 10 8
20. Børskurs/årets resultat pr. aktie ++ 7,2 10,9 17,6 6,2 4,3
21. Børskurs/indre værdi pr. aktie ++ 1,14 1,08 1,63 0,91 0,89
£. Egenkapitalforrentning er beregnet på grundlag af gennemsnitlig egenkapital.
1+. Aktienøgletal er beregnet på grundlag af en aktiestørrelse på kr. 100 pr. aktie.
ÅRSREGNSKAB OG BERETNING 1999 45
ON
AJS 4 0
Le 2 Erhvervs- og
. Selskabsstyrelsen
Ø 29 MRS. Zu80
KTU
(N
JYSKE BANK (GIBRALTAR) LTD.
GIBRALTAR
Årsregnskab for 1999
Læænee
SED
JYSKE BANK (Gibraltar) Whole "000"DKK FB 1
Profit and loss account for the financial year 1999 1999 1998
1... Interest receivable …...….dsssssserseerrreneerreene setter redern teen ener nr erne 423.442 422.320
2... Interest payable…...u.u.nnsssssrrrerrrersrrerrrs res errsner ener tesen rss etern nn erne 308.966 316.025
A.. Net income from interest 1....ssssssseeesseseererserereeer teen sen nnennee rens sne neee 114.476 106.295
3. Dividend on shares, etc., and other holdings ….W..ssessereserrrrersesseseee 0 0
4... Charges and commissions receivable, 2M….M….….sssccssereeerrersserersenereesenennree 36.728 30.069
5... Charges and commissions payable, …….W.ssssssersssrrssessrnrrrreesrrsnee serne 247 277
B. Net income from interest and charges …(1(1(|.|W….ssssssessseserr essens ea nendannee 150.957 136.087
6... Market revaluation .....eussseeeeeerrrrsserrenrerserereseersresen arrene rr ennen rnseer 9.899 9.394
7 Other ordinary income …….Gu.u.ssssssrressrrrereersrterret ner ees sner ren ennen rnerenenee 16.620 38.075
8. Total staff costs, etc. and administrative expenses ……...ddssnenrvessssrrree 87.269 78.927
9. Depreciation of & write-downs on intangible and tangible assets ... 6.167 14.772
10... Other ordinary charges ….W.Xu.u.u.u.uvsseseseserserneerrerereresen renerne rnnrenne 0 28
11... Depn. and provisions for loss on bad debts …….u.u.udcesererrrerreF 8.773 937
12. Price adjustments of participating interests in
associated and affiliated enterprises …...u.u.u..svdssscssrrererseresenerere vennen 0 0
C.. Profit/loss on ordinary activities ……..u.u.u..sssseserersererenenerrreerneeneernnteennnee 92.813 90.766
13... Extraordinary income …..u.ssensesererrssenreresrrrersee rr sere reen sener rnes sner ens rnne 0 0
14... Extraordinary charges …(…..sessseresrrrreeeresnesrerenserennrer ren esern reen ern rr nene 0 Q
15. Tax sesssccseesrrrrereseserererereregseseereeserene renere er rererrr seerne be arrene rr r ner 27.836 13.231
D.. Profit/loss for the financial year 1…..u.u.u.u.sssssesseresnerrerenerereenessnegnngen 64.977 77.535
Distribution of profits:
1. Profit/loss for the financial year ….u.u.u.u.dssenersrrserrresernssesrereersseknsnnnne 64.977 77.535
2... Brought forward from prior years ……....W.Gu.u..sssseseressrrrerrerrrsrenerenernrnenee 0 0
A.. Total amount available for distribution …....sscsssseersrrsernerssreneenrnnernee 64.977 77.535
3. Dividends …….G.G….ssseserereesesserstreeeneses esserne e ener renten r etern en ener rener rr terne snnnee 0 0
4... Various other purposes Å….u.ssssseererreseeersererrrskere ne rnss sneen rr tresserne 0 0
5... Appropriation to own funds…....G..ssssseseeesseerrrererreses ser erererer rente te rrenee 64.977 77.535
B.. Total distribution of the amount available …(..…...ssssssssesereerrrereneeerererer 64.977 77.535
fæ
CT
JYSKE BANK (Gibraltar) Whole "000"DKK FB 2
Balance sheet as at the end of the financial year 1999 1999 1998
ASSETS
1... Cash in hand and claims at call on central banks 1... 14.405 9.351
2. Treasury bills and other bills eligible for refinancing with
central banks 0 0
3... Claims on credit institutions and central banks ….dserrerrreree 2.860.186 2.082.873
4... Loans and advances ….G…G…..ssssceseresereeeerereene arrene nerne renser enee 9.536.915 7.004.406
5, Bonds…..u.u.u..cdcssseersererernerreses rr e rens rener nere rener ee ener senere ene ner Q 0
6. Shares, etc. 1(M.W….sssssssereerrersesersrrresrsndes rener entreen renere nerne sn enn 32 29
7... Holdings in associated enterprises, etc. ((.…..ssssseserererrrrrsee 0 0
8... Holdings in affiliated enterprises……....u..cssseeereerererrnerrernesenenee 5.266 4.907
9. Intangible assets ……...W.u.dcsesereerrerrseeeren re rrerse nerne rr re reen er rss 0 0
10. Tangible assets 2M1.W…"|.G…...G.sscssreserrsererrerernsrereneen sneen ener ener ersennne 60.719 63.565
11... Own holdings 2M…….….sssccecseeerererererrenserreanerersennsen ner rsrerernn serene 0 0
12. Other assets ….…...usenceseesseereeesesesr enes renees e rss rnn ennen reen reereee 85.783 76.269
13... Prepayments and accrued income ….…G.G…..sssrseseerserereererrenrsene 328 479
Total assets M(1.(.W.W…...sssscsssereserssesrsersense rense renee sekt nn neesen erne sener reen enn sene 12.563.634 9.241.879
LIABILITIES
1... Debt to credit institutions and central banks M1…(.MW.W.…..sssercerseresee 9.336.476 6.726.205
2... Deposits Å….GW.Gu..ssenserrsesserersee rss eret renerne ternene sparer ennen rnenner 2.421.327 1.912.621
3... Issued bonds…..u.u.sssssseseeeesererseeseseneerreee renser eres ere ennen senge 0 0
4... Other liabilities ....M.u.u.usscesersereeerrresernreeereresnnerer serene erne 218.299 143.190
5. Accruals and deferred income Å….vdcdcsnceeeerereerereseesnerensnnsenene 0 0
6. Provisions for liabilities and charges…...sssscerreeserernreereeneneee 0 0
7... Subordinated capital investments .…..ssssssseseserrserne rer renee 0 0
8... Own funds
8.1 Share capital/cooperative capital/guarantee capital …Å….. 316.452 280.484
8.2 Share premium account M(.(.W…...ssscseesereesesesreeerreeerrre ennen 28.252 25.041
8.3 Reserves ss ssenecereesererereereeseeersneeersseerensenetenn een nsessenerne ennen 0 0
8.4 Revaluation reserves .…….ssscensseereeeereseererereennsennsensnnenevnee 0 0
8.5 Brought forward from prior years …..…...ssesscsssrnssereserssnesnee 174.131 76.803
8.6 Carried forward from profit/loss for the year ...........…. 68.697 77.535
Total own funds …….W...sssscesererressereererernees seeren te nrker eneret r ner senee 587.532 459.863
Total liabilities ......u.u.uddssssssssesereeressersses reen tnsreenrrrrnnern senere nere 12.563.634 9.241.879
OFF-BALANCE-SHEET ITEMS
1... Guarantees, etc. M1..….sssscseseressersereseereen erne serene rerre renerne 132.763 92.562
2... Other commitments ……...….ssseseveneeesneeerveerrrensserernennene ne enn sn nege 0 0
Total off-balance-sheet items 132.763 92.562
Derivatives are specificed in the notes FB 5 - FB9
veere eee ternede esse sete ere eee naes
JYSKE BANK (Gibraltar) Whole "000"DKK FB3
Notes on the annual accounts 1999 1999
Own funds
Capital movements Opning Additional Capital Addition in
balance capital / write down connection
bonus shares with merger
Share/cooperative/guarantee capital . 316.452 0 0 0
Share premium account …..….W.…..scsrrereee 28.252 0 Q 0
Undistributable savings bank reserve... 0 Q Q 0
Reserves for net write-ups according
to the equity method ……M.…m..sssnersrersrrrererree 0 0 0 0
Other reserves ….….…..sescerserrrerseeerrenerere 0 0 0 0
Revaluation reserves .Gsssseseseesrereveresese 0 0 0 0
Brought forward from prior years …..…. 174.131 0 0 0
Total own funds ……….….…..G….sssseseresersvererererner 518.835 0 0 0
Closeing
Additions Disposal Balance
Share/cooperative/guarantee capital . 0 0 316.452
Share premium account M(].W.W"|….G….sssersrrserere 0 0 28.252
Undistributable savings bank reserve. 0 0 0
Reserves for net write-ups according
to the equity method …Å….….….….ssscecesererrerrer 0 Q 0
Other reserves GG. .ssenevenerererrenreseeeereeee 0 0 0
Revaluation reserves .….G…G.G…ssseseserererrrere 0 Q 0
Brought forward from prior years .…... 68.697 Q 242.828
Total own funds GM..G..ssrncsererererererrerensner 68.697 0 587.532
SOLVENCY RATIO CALCULATION. 1)
1. Core capital after deductions ….W.W.u.u.d..dcssserererersenersrnesnekne neger erne ree versene seenrsnnneer
2. Surbordinated loan capital and short-term supplementary capital 1...
3. Weighted assets not included in the trading portfolic.......….…..ssssscsseserererrseree
4. Weighted assets with market risks, etc….u.dsseseseeeeresresererrsrens eneret ren rtnenee
5. Total weighted assets ( items 3+4) MGWGW"G…G…. .ssssssssesererrer senere rensende rr renerne senesanen ere
6. Core capital after deductions as % of total weighted assets M(.…|…..sssecrsrereenrer
7. Solvency ratio pursuant to BSL S 21 (1)sMG.sssessesesererererrererererernee (1 decimal) …
1) Calculated according to the order of the Danish Financial Supervisory Authority of 19 June
1977 on the capital adequacy requirements of banks and certain financial institutions.
Cr
JYSKE BANK (Gibraltar)
Notes on the annua
I accounts 1999
Guarantees and other commitments
Off-balance-sheet items, item 1
Guarantees, etc.
1... Guarantees
1.1. Financial guarantees …….....u.u.u..sdsesenserrrerresesesenese rene erne sekserne
1.2. Other guarantees….....u.u.u..sssenesersrrssereresenene renen ennen resterne ernee
1.3. Acceptances and endorsements, etc…....dsssesenereeeerreenesrnnrnee
Total guarantees, etc.
RENS Needs en ses eee Eee buer een eee essens ennesee
Off-balance-sheet items, item 2
Other commitments
2.1. Irrevocable standby letters of credit 2...
2.2 Sales with an option to repurchase …..u..s.ssssesssseseereersseesensn rene
2.3 Other commitments
Total other commitments
PN essens vene eee see never es eee eee
eee venerne vennerne eee vere esserne
Whole "000"DKK
1999
132.763
Q
Q
132.763
OQ O OoO Oo
FB 4
1998
92.562
92.562
OIO do oo
re
JYSKE BANK (Gibraltar) Whole "000"DKK — FB5
Notes on the annual accounts 1999 1999
Derivatives Up to 3 months 3 months to 1 year
By remaining time to redemption Nominal Net market Nominal Net market
value value value value
Foreign-exchange contracts
OSOS0O0OD0O oOo
DO OD OoO
Forward contracts / futures, bought.… 319.060 0 147.278
Forward contracts / futures, sold... 0 0 0
SWaps.esseecererresererensererrrserserrrenreesnenenee 0 0 0
Options, acquired …….W…...sssssesserenssrssseres 0 0 0
Options, issued M….….csserssrrerereserersnee 0 0 0
Interest-rate contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Forward Rate Agreements, bought .… 0 0 0 0
Forward Rate Agreements, sold ….…... 0 0 0 0
SWaps.esssenenverreerererreer renere enererenee 0 0 0 0
Options, acquired 1….sserersereserreseee 0 0 0 0
Options, issued …M….sccsssereerrerrerserererer 0 0 0 Q
Equity contracts
Forward contracts / futures, bought.… 0 0 0
Forward contracts / futures, sold... 0 0 0
Options, acquired …....u.sseseserrrreersseee 0 0 0
Options, issued ….….GW.u.u...ndcssrerersrereernereree 0 0 0
Commodity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired ……..sssscsrererserereere 0 0 0 0
Options, issued ,…….…..ssscseserrereeerereenersee 0 0 0 Q
Other derived contracts….........ssscce. 0 0 0 0
JYSKE BANK (Gibraltar)
Notes on the annual accounts 1999
Whole "000"DKK FB 6
1999
Derivatives
By remaining time to redemption
1 to 5 years
Nominal Net market
value value
Exceeding 5 years
value value
Nominal Net market
Foreign-exchange contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold...
Options, acquired MGM. ssseceresererserseressee
Options, issued …….W.G…..…..ssesecesersrerersererese
Interest-rate contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold...
Forward Rate Agreements, bought...
Forward Rate Agreements, sold .…..
Equity contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold...
Options, acquired 1... sesssseceerreses
Options, issued …..u.u.ddsseverreersesserereeee
Commodity contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold…...
Options, acquired .....…...sssceeeeerrrree
Options, issued …...sssssveressesresserseneee
Other derived contracts……................
ODDO O&Oo O
OO ODO O
OQODOOSOO0O oOo oOo
OOODOOO G&G oOo
ODO oOo
ODO oOo
ODO oOo
O GQ ODO oOo
OQOOQOQOO0OQ0Dd0ODO GO &O OQDO SO oOo
ODO oOo
ODO oOo oo
O Odo OQDdDOSIO IO &Oo oOo OQOOSIDO oOo oOo
O d&O OD oOo
LTD
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JYSKE BANK (Gibraltar) Whole "000"DKK FB7
Notes on the annual accounts 1999 1999
Derivatives Total
By remaining time to redemption Nominal Net market
value value
Foreign-exchange contracts
Forward contracts / futures, bought…...u..sssssereeern revers ere rense 466.338 Q
Forward contracts / futures, sold…….....….ud.u.dsssssseeresrrrenr renen renerne Q 0
SWaApS.esensessseserrree eee rse reen sneen ere seeren nens enes n greenen neg seen e tk rener sner eee Q 0
Options, acquired ….W.u..u.sssssseecerserereerrenrnrterteree neste renk erne ere nnser 0 0
Options, issued …….…...Msssssserneerererrensarrersenerere nr sgr ennen essere renere 0 0
Interest-rate contracts
Forward contracts / futures, bought…..u.u.sssnerrerrrreseresrrreeer rss 0 0
Forward contracts / futures, sold….........ssssscerererenrene re rerrenrennee 0 0
Forward Rate Agreements, bought …..u..sssscesereereee 0 0
Forward Rate Agreements, sold .…....…..sssssencnsesrren renses rrnneenee 0 0
SWaAPS.….sssesesrererevensreeevesss rese s eger erne see en ens sne nens e nens r ene erne nende enden 0 Q
Options, acquired …MM.GW sussceneereserersersererrereseenreenee renerne rens n nen enenee 0 0
Options, issued .…….G….GWG. sssereseererereererrere enes ersnrenesene nerne rsn senere nense 0 0
Equity contracts
Forward contracts / futures, bought.…...ssssesrerre- 0 0
Forward contracts / futures, sold…...….sssssscerresrsererner 0 0
Options, acquired 1(1.…..ssessesererereerrnrsreseerrerntrer seeren renter tres nere 0 Q
Options, issued (…...ussccseseeeeeresrsrrn snes eee sse renerne rener rr renee rene 0 0
Commodity contracts ”
Forward contracts / futures, bought….W.u.u..dsssscerereererssenre 0 0
Forward contracts / futures, sold….....…..u..ssesscerreereerrer reden rrneneee 0 0
Options, acquired 2…...W....sssssseerereresreresereserrreererrr ren etnn erne ternene Q Q
Options, issued …..u.u.u.u.ssseeseseeeeereren kerne reererrsenk eres snn rr s rn rer 0 0
Other derived contracts….....…..sssssenereressrrersssrrerese ldeuenvuvreeerrknee 0 0
Total net market value…....u.u..ssssceneeererrnresrsseserstere ram snert r ene nne rer 0
( pe,
>=,
JYSKE BANK (Gibraltar)
Whole "000"DKK FB 8
Notes on the annual accounts 1999 1999
Derivatives Market value Average
market value
Pos. Neg. Pos. Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.… Q 0 1.662 (1.579)
Forward contracis / futures, sold... 0 0 0 0
SWapSKssescenesererersenere renere sene nes ne rt reeser 0 0 0 0
Options, acquired Å….u.W…|…...scscserrsrsrerereseree 0 0 0 0
Options, issued MG..sssceceseseneessrerererrrenee 0 0 0 0
Interest-rate contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Forward Rate Agreements, bought .… 0 0 0 0
Forward Rate Agreements, sold —(1.[..]. 0 0 0 0
SWaps.seneneueeeeserenesenrsse essere nn rss re ressnee 0 0 0 0
Options, acquired …....….ssesesrrsssrsrrnrserees 0 0 0 Q
Options, issued MGM u.sssssserereresrenerrareenese 0 0 0 0
Equity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... o 0 0 0
Options, acquired …....sssseseeeersrsrrsense 5 0 3 0
Options, issued ,……M….G….sseseseereerererereernenee 0 0 0 (86)
Commodity contracts
Forward contracts / futures, bought.… 0 0 0. 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired …....u.sssseseeerererrreeee 0 0 0 0
Options, issued …....…..ssscseseresererenererree 0 0 0 0
Other derived contracts……......sscer 0 0 Q 0
Total.G..ssscesereeeerese versene ernk re reersesrnenrnee 5 0 1.665 (1.665)
JYSKE BANK (Gibraltar)
Notes on the annual accounts 1999
Whole "000"DKK
Derivatives
Marked value of
non-guaranteed
Pos.
contracts
Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold….[.
Options, acquired .…….G…. ssssssesrererersesesseer
Options, issued Å(….….ssssessrrseerrerssernrneee
Interest-rate contracts
Forward contracts / futures, bought...
Forward contracts / futures, sold...
Forward Rate Agreements, bought .…
Forward Rate Agreements, sold .…....
Equity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired MM... sscccceereseresrrererseee
Options, issued .…….W.….ssscsssserseererreserrseeee
Commodity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired …..….….….ssccsesserrrerseeseese
Options, issued 2... ssscccsereerereerseeerrnner
Other derived contracts…..u..usssceeeerreee
OSDSOG0O00O0 0 oOo QOOQGOO
(æter JOJO
o
QOQOO OQGOCOSGOO0o GO QQJOOO
DODO GO
FB 9
1999
Outstanding sport transactions
Nominal
value
Market value
Pos.
| Neg.
Net market
value
Foreign-exchange transact. purchase
Foreign-exchange transactions, sale.
Interest-rate transactions, purchase …
Interest-rate transactions, sale —1(1(.1|[1.|[|W1.
Equity transactions, purchase …...
Equity transactions, sale…..u.u.u.dcsessre:
Other transactions, purchase …....…
Other transactions, sale....W.u.u.ssscccerer
Total
OQDGOSOSOOOODOO&O 0
OOGS0O0000OGD O
ODOO0QGOSO0O0oOoOC0O0>O oOo
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JYSKE BANK (Gibraltar) Whole "000"DKK FB 10
Notes on the annual accounts 1999 1999 1998
Credit risks Advances + Advances +
guarantees guarantees
Advances and guarantees according to as % at the as % at the
sesctors and branches end of year end of year
1... Public authorities……...u.u.u.sssssesnseresrresresreereres renen enenenrese renser ernsnee 1 1
2... Industries…...u.ssvsseveverseren eneret renee res se kernerne eregee
2.1. Agriculture, hunting and forestry…....Xu..ussssnersesereesnerrnnresesrseee 8 8
2.2. Fisheries…..u.u.u..vd..cdsdeneneeresesreseereeeneerererens nerne sne sener ndsns sneen rs rnnee 0 0
2.3. Manufacturing companies, extractive industries
electricity, gas, water and heating plants…..u..usssensrererrerese 5 6
2.4. Building and construction cOMpPanieS…............sscscsseeeeerres 1 1
2.5. Trade, catering and hotel businesses….u..dsseseseeresreererrener 17 18
2.6 Transport, mail and telphone…….....ssssscsseseree reeks skere esreerene 7 5
2.7 Credit and financial institutions and
insurance agencies….G.G.G….G..sssveereressrseererersse veere sene versene sees nerne 4 2
2.8 Administation and sale of real estate,
business service.….…...sssessreenseresrrseresserserdenenn ene ne reen rn n ner nn enere 18 24
2.9 Others…….W.u...ssessssresseeeseresne rese rsnsneenernesee reen ran ns ne ses ener rss 16 16
Total…....G….u...sssencerveeereseeresrerennnenserensnerstnne nerne nne renerne rne rene 77 80
3... Private…..u.ud..dddssssensesereeevenv ennen enes eee se ennen ennen gerne seen nens ens ee 22 19
1-3. Total……....ssensesersersrnereses essens ene nesereernte renerne n en ne sees ene renen sne veer nen 100 100
Credit risk on derivatives
Positive market value Counter-party including risk weighting
(after counter-party risk) 0% 20 % 100 %
Positive market value after n 0 0 (9
Please see the order Danish Financial Supervisory Authority S27 (3) and S12, for a list of
counter parties within the 3 risk categories.
Subordinated assets Associated Affiliated Other
Undertakings Undertakings Undertakings
Subordinated assets…..[.[.[.. 0 0 0
Accumulated provisions 1999 1998
Provisions at the end of the year on advances and guarantees .…. 46.020 56.274
Provisions at the end of the year on credit institutions and other
items involving a credit risk …..u..u..ddssssenseerrrerenreerernrner ennen tese ene rrne 0 0
Total accumulated provsions …..u.ssssensnveeeerererseverenee ren renee nes sn ene en ene 46.020 56.274
Accumulated provisions on advances and guarantees as a
percentage of advances and guarantees at the end of the year 0,5 0,8
Total non-performing assets at year end ….W.G.u.dssssesererereeresesssernner 41.527 10.028
JYSKE BANK (Gibraltar) Whole "000"DKK FB 11
Notes on the annual accounts 1999 1999 1998
Market risks
CURRENCY EXPOSURE
Total assets in forreign currencies .......ssssenunrrsrrrersteresesrerssern serne nnnne 8.590.184 5.957.925
Total liabilities in forreign currencies……....sssssseseerressrreenenererer renser errsnnee 8.590.184 5.952.512
Currency exposure TG...ssseerreserrrnsesereeseesnesgerereresensnne eggs sees enn even nemnd dennes -
Currency exposure 1 as a percentage of core capital after deduction. -
Currency exposure Zasesceeeereeesesererererennenrenrrrnns rer rrrneee nens nn ener nere rs esenee -
Currency exposure 2 as a percentage of core capital after deduction. -
INTEREST-RATE EXPOSURE
Total interest-rate exposure on debt instruments…......ssssereeeerereeee
Interest rate exposure by currency involving largest interest-
Xl rate exposure:
1. DKK <—sc sc so. senvereeresesseeeessrerseeerenrereresesnensnneee -
2. XXX 0000000 nereeerenersrnsngeseseeesnsereneneseneeesenenne -
3. XXX 00000 eneerererrrrreserserrernessenes rese senne rese rene -
4. XXX 000000 neveserevererseerrenveennnnnnnnneerensennsed nende -
5. XXX —000—oo—- nvveesrønnesesesreresesesnenneneeeeeesensenennrer -
6. XXX —0000—o—— seweeereeereersesenenserrennennneneensnesenereseee ”
7. Other currencies 0 sssereeeevereseeeseennseserererernrsennen ennen -
JYSKE BANK (Gibraltar) Whole "000"DKK FB 12
EX
— Notes on the annual accounts 1999 1999 1998
Assets and liabilities by residual maturity
Assets at credit institutions and central banks
1. At call ,…….….W..u….ssseecsessereserssesesrerereneserrseersesn renerne rr nerne nnere 759.328 503.450
2. Up to 3 months …M(….(.….…..sseveseeeeersee senere renksn sneen sekserne ran negenee 1.927.112 1.442.344
3. Over 3 months and up to one year GG sssceneeerseeeee ener eeneresee 173.746 113.573
4, Over one year and up to 5 years (GM ssssscssesssessesenneene renee 0 23.506
5, Over 5 Years MG sssserereseeeseereresersseresen ennen rnk renser enn sn ts nersnen 0 0
Total GM. sssssverereserreerereerrrsrrreeee renee rn rene esserne eres se nr erereen nere 2.860.186 2.082.873
Advances
1. At call …M..….….smssscevesesrerssrernreseesneneneene ennen engene ener rn renee 0 Q
& 2. Up to 3 MONthS 2......cccsevcrecerreersererserrrerer treerne tr rnn rer 6.925.526 5,055.537
—— 3. Over 3 months and up to one year …..….ssssesseseereesreersrnner 1.878.024 1.491.617
4. Over one year and up to 5 years M.G. ssssssssseseerseesrerernrereeree 500.259 299.235
5, Over 5 Years G..sscseeeseesseseeesenereene erne renees eneret e renerne rnee 233.106 158.017
Total MG .u..sssscssesesssesrsseseresesrsseneeenesse sene ereen ennen arrene renen r entre re 9.536.915 7.004.406
Debt to credit institutions and central banks
1. At call ….GW….u..ssceseresseressrnnseeeenenesee ennen sneen ennen renen tres en renee 11.486 2.261
2. Up to 3 months 1…..G..ssssssenerrersee ener een enn tsr erne renerne rrne renee 7.536.075 3.784.139
3. Over 3 months and up to one year (.…...ssssssssesererererreree 1.785.918 1.637.410
4. Over one year and up to 5 years .…M.W.G….G.. sssssssseseeereereeneserenee 2.997 575.583
5. Over 5 Years su..ssesssseserseererersseesrneseersks erne terne rn regere serene nerne 0 726.812
Total GM.uMudG…..sssscseseseeseresereterreresesee rene sene renee ennen rn r enes rne renerne neger 9.336.476 6.726.205
Deposits
1. At call Mu. ssssscesesereerreserserseerersedeeserneke rense renere ennen nsgen 1.816.422 1.326.737
2. Up to 3 months M1].V|.….….sssssrreresrereerrese rener ereses sen nen renterne sense snes 455.431 451.372
3. Over 3 months and up to one year M(1.….sssssssrserserrereerneee 149.474 61.761
4. Over one year and up to 5 years GM. ..sssscssseseresereserereereene 0 72.751
5. Over 5 years Mu. ssesrereeserseresssserrnere regenerate renere rrennternene 0 0
Total Ms tsssssserersserrerssesererereernere ennen ene serene eres snedkere 2.421.327 1.912.621
Issued bons, etc.
1. At call (.M….G…..ssssceeverereeeeersnsrrsererneser sens ens nerne rense re renerne neee 0 0
2. Up to 3 months …(….Wuu.u.ssssssseseserrsenerenerennesrngersesnnernse nen nen nes 0 0
3. Over 3 months and up to one year …….….ssssessrnrrereeerreerernene 0 0
4, Over one year and up to 5 years Å….…..ssseseeerrereererernesrneneser 0 0
5, Over 5 years MG. ssssccceerereeeererernnes ennen rrne terne rener ternene 0 0
Total MGM... sssssesererressereseseese rer rernnn erne nerne ener r anser renerne renee 0 0
JYSKE BANK (Gibraltar) Whole "000"DKK FB 13
FnDd
Notes on the annual accounts 1999
Re: Profit and loss account 1999 1998
1. Interest receivable/premium/discount on forward
transactions of:
Claims on credit institutions and central banks smc 107.937 112.191
Loans and advances…...ssssssevesersrrsessenereseerses eres eres eree 315.505 310.129
Bonds……G.Gudssssvesceserersrsssese skere tr renterne r nens bt rr E LE res k sn rater e reden 0 0
Total derivatives….X..u..sssssssersseenesesnesassensernserseeenns erne rer eneenesre 0 0
of which
Foreign-exchange contracts 1…...ssnscsssesereereressrsnrrrnernesreree 0 0
Interest rate cContracts ……....seenncseressre rese rnes erne sneneeneernesneee Q Q
Equity contracts …...ssssererererrserdsssseneresessneeesesne gere ernsennes 0 0
Commodity contracts…….......M..senssesererernerereserseneresereneseessnerner 0 0
Other contracts .........sssseserreseresersseernnssnnnessnsse neger sengene 0 0
Others (+/-) susmdwssenesesneseeneserneneenernernnnreer engen nens nen sneen seere sesenee 0 0
Total interest receivable……....ssssesserereeeresssneeeresereerenerresseeee 423.442 422.320
Of which genuine sale and repurchase transactions under '
Claims on credit institutions and central banks Msn 0 0
Loans and advances….u..u.ssssseverereresneser enge renere een genet rrennee 0 Q
2. Interest payable to:
Credit institutions and central banks…..Wu.u.u.sssencesrreeereesrsereree 243.834 242.146
Deposits…..G.GG….d…dsseneversesesrnekrsssnsesersse sene s sener ns en nerne reen renser n see 65.132 73.879
Issued bonds …….u...seseseesrssrrserrenessrsneresesen serene ennen n eee r sener 0 0
Subordinated capital investments …….ssssseeseesseeseneneneesssnnnes 0 0
Guarantee capital ….Gu.u.Xu.sssssuserderrseeereseseseressenssn neger nee nen nnee 0 0
OthersG..ssesesreesecerssesversesvesetersenesernnnngen meeen neste neee rss renterne es 0 Q
Total interest payable…........….sssseseccsreneeerns ene denen ener eres s erne 308.966 316.025
Of which genuine sale and repurchase transactions under
Credit institutions and central banks…..u.sdservesevessereserseneseeee 0 Q
Deposits….Gu..G..sssvessesererrreserrerkes rene retter tr rer e rr rer tres t rr reenee 0 0
3. Dividend on:
Shares…G.G…G….Gssevereeetesseesensese stenen negre sens enek ternene renerne ns essens 0 0
Holdings in associated undertakings, etc….u.u..ssssecesereesreenees 0 0
Holdings in affiliated undertakings: ….…..sscsssesreerrererreereesrssre 0 0
Total dividend on shares and other holdings …..….u.sssncssrrsreree 0 0
woo
JYSKE BANK (Gibraltar) Whole "000"DKK FB 14
AN
Notes on the annual accounts 1999
— Re: Profit and loss account (continued) 1999 1998
6. Price adjustmenis 1) of:
Bonds…Å….….u.u.X.s ses seesrerreerse resten seerne ere ener r rr r retn ener rene rt nere ennen Q 0
Shares…G…GdGsssssenererrerersentgttrntr nere rn skr renee treerne ene e seet re LEE LE rr renere 0 0
Advances with fixed interest..............sssencusererserereererererer (506) (60)
Exchange-rate adjustment of foreign currency... 10.405 9.454
Total other financial instruments (Derivatives ).…...|.[.[.[.[|.[.. 0 0
of which
Foreign-exchange contracts …....ssssnssesereveeseseneerersenrrreee 0 0
Interest rate contracts ….......ssseseeesenenvennenenesesrkrerernerer 0 0
Equity contracts ….....sssssssevereresessrserenenene eee nnnse venner rt rer reer 0 0
( Comodisty contracts…….........seseesensenseressenseeesesre renere rrnnres 0 0
Xø Other contracts …....sssnseeveeserererensersrr enes se snert renere tsree 0 0
Total price adjustments ........ssssseeseuerereseene reen ser rese nere nere 9.899 9.394
Of which relating to pension pO0O!S ...........sssseneeeeererereererre 0 0
1) The sub-items include price adjustment of securities, etc., forming part of the pension
pools. Adjustments are made for these price adjustments in the item pension pools
below. '
(
komm»
JYSKE BANK (Gibraltar) Whole "000"DKK FB 15
Notes on the annual accounts 1999
Re: Profit and loss account (continued) 1999 1998
8. Staff costs and administrative expenses
Salaries and remuneration to Supervisory Board,
Board of Managers and Board of Representatives
Board of Managers….…..G...ssscsereeersererererrer eres e renser sn eenn nen sresese 1.893 1.903
Supervisory Board ,….…GW.G….dssssscsereseereevensnensnre renerne renere rner ne nnee 0 0
Board of Representatives…...W.u.u..s smc rresrersesrever seerne renerne 0 0
Total GG" .dGsmsssecsuversersesererertsegseese renen esse renterne erne renee nr rnrn renen 1.893 1.903
Staff costs
Wages and salaries ....ssssscceeeerrrrensrernne res srnsrrnn renere rnrnee 13.837 12.689
Pensions s..ssssscsessesereeereresereses erne renees sner een enk rn ener renser renere ere rrnnen 535 472
Social security COStS MGM... ssssesesseseesrrrernrer ens r rer rnr sr r rr r ennen 2.266 1.945
Total G.Gsssmsceveerveneeerenserseserenenenesrsvens esser renen vegne veere rener en enes ee ennen 16.638 15.106
Other administrative expenses .….u.…...ssscssserrsssse renerne enene seernes 68.738 61.918
Total staff costs and administrative expenses….u.u.dsseseerversensese 87.269 78.927
12. Price adjustments of participating interests in associated and
affiliated undertakings
Price adjustment of holdings in associated undertakings, etc. 0 0
Price adjustment of holdings in affiliated undertakings .….[.[.[.[. 0 0
Total price adj. of participating interests in associated and
affiliated undertakings…...u..udsssensseseeeesere renere sense seeren sen rs erne nerne 0 0
15. Tax
Estimated tax on the year's income …...s.sssssseserreerserererrernene 27.836 13.231
Deferred tax (timing differences).…......ssssseseerrsesrrserrrrersereernsee 0 Q
Adj. of tax calculated in prior years 2…..sssssrrrerrseeererrersesrnneee 0 0
Total tax suwssssssenveeerrensseressesereeenrnge ser seeren erne sd erkende rrnr ennen ere nerne 27.836 13.231
Supervisory Board, Board of Managers and Board of Representatives
Amount of loans, charges, securities and guarantees
issued to members of the institution's. Advances, etc.
Advances, etc.
Board of Managers M(.…..ssssseseeeereenere rese rrrnen enter rer ener ene rnnee 1.158 1.043
Supervisory Board GG mM. ssssscsesereerereeererrenserrrne ren n seneste rsask era n neg 0 0
Board of Representatives ….W...u.u.ssssssrsrerrrrserrsresrneensereernendee 0 0
Securities Securities
Board of Managers MM. sssscceceserereesererrssrsedese rener renterne sengen 0 0
Supervisory Board tGM.G…G. sssscccesersererssrereenees rener rarere nerne ne snges 0 Q
Re: Auditor's Fees
Total fee to auditors elected at the Annual General Meeting
in charge of the statutory audit….....ssssssseserresereerneernenneenenes 389 391
Of which for services other than auditing….....ssssssrcerersererrreree 86 66
Re: number of employees
Average number of employees during the financial year converted
into full-time employees (1 decimal) 71,7 70,4
ADS
CC
JYSKE BANK (Gibraltar) Whole "000"DKK FB 16
Notes on the annual accounts 1999
Re: Assets 1999 1998
Claims on credit institutions & central banks
Claims at notice on central banks…...........sssssenereerernrerseree 0 0
Claims on credit institutions…….......…....ssssssesereeerererreen reven esees 2.860.186 2.082.873
Total claims on credit institutions & central banks…Å….[.[.[.].[.]. 2.860.186 2.082.873
Bonds
Quoted on stock exchanges …..W.Gu.u..dssncesereereerserssrrerese renere 0 0
Other ……MG.G….udsssseseveserersessrners rt teten ts SELER EEN SENERE EL n ener eres nere 0 0
Total bonds…....dssesssresererrseteresrersgererre enes ren entre st nr r re rerere 0 0
Hereof own bonds……..u..u..dssssssreereeereeererrrerrre nerne reen nr sn erne 0 0
Shares, etc.
Quoted on stock exchanges …...u..sssssseseseeerrrreersern renen rener 0 0
Other shares…......sssserereserresresrereskers renses eres r ere nnenennse 0 0
Other holdings .…....…..ssssceveerserrsrereernesessrennesnerrersenereeerenresee 32 29
Total shares, etc. M(.(.MW.W….G…..sssssseresssesssereserers ere rnererentererrnr renere 32 29
a) Financial current assets valued at market value
(quoted) MMwGuG.sssseseeueeesererseresrsnsrse serene sense re ere ener nerne renee 0 0
b) Difference between the purchase price of financial
current assets under a) and the higher market value
on balance sheet date …....u.u.u.ssssscesereererrserserser nerne eenes 0 0
c) Financial current assets not valued at market value
(unquoted) M.M. ssssssseveserersersreseesrnssskrssn enes ses ss erne nr ener n enn ee 32 29
d) Difference between the purchase price of financial
current assets under c) and the higher market value
i 0 0
on balance sheet date 1(...XW.u.u.dsssseeredereerererrererenesrnnne
JYSKE BANK (Gibraltar) Whole "000"DKK FB 17
Notes on the annual accounts 1999
Re: Assets 1999
Financial fixed assets Affiliated Associated Other
A. Acquisition value, beginning …..
- Exchange rate adjustment of
the year Gw.dssesessseseersrererereneneee
- Additions of the year .….[.[.
- Disposals of the year ……...
B. Acquisition value of assets
held, end ….W.W.…. senere rn trt renere
C. Revaluation and writedown
beginnng….X...sessreerersssesrs renterne
a) Exchange rate adjustment of
the year MG. sssnereveresersessree (+/-)
b) Profit and loss ...[.[.[.1.[.[.[.[.[.… (+/-)
c) Dividend …….…..sssvssseeeererereeneee
d) Difference upon acquisition.….
e) Other capital movements…..
f) Revaluation and
writedown of the year .…….[...
g) Revaluation and
writedown reversed ……........….
D. Revaluation and writedown of
assets held, end ….u.u..deeverererrerre
E. Holdings in parent companies...
F. Portfolio booked, end
(B+ D+ E) GG. sececerrseseresererrsererrese
of which credit institutions …—.….
G. Portfolio booked, beginning .…..
of which credit institutions …—…
undertakings and
other significant
undertakings
undertakings
holdings
4.907 0 0
629 0 0
0 0 0
270 0 0
5.266 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
5.266 0 0
0 0 0
4.907 0 0
0 0 0
JYSKE BANK (Gibraltar) Whole "000"DKK FB 18
Notes on the annual accounts 1999
Re: Assets 1999
Intangible assets Goodwill Other intangible Total
assets
A. Acquisition value, beginning ……...
- Exchange rate adjustment of
the year G.uG….sssssceneeererererenreernenee
- Additions of the year …..
- Disposals of the year .…...
B. Acquisition value of assets
held, end GMGWG.G"..sssseseserrereseress serene renen
C. Depreciation and writed. begining
Exchange rate adjustment of
Depreciation of the year …—.
Writedown of the year .….[..
Depreciation and writedown
reversed
D. Depreciation and writed. held, end
the year GM.uG….ssscsceceresererererenseenees
E. Portofolio booked, end
Portfolio booked, beginning …..
Expenses of the year
O O
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OR,
SD
JYSKE BANK (Gibraltar) Whole "000"DKK FB 19
Notes on the annual accounts 1999
Re: Assets 1999
Tangible assets Land and Machinery, Total
buildings equipment, etc.
A. Acquisition value, beginning .…….[.[.[.1.…. 124.160 9.933 134.093
- Exchange rate adjustment of
the year MM... .sssccereserereseersrerer kreere 14.902 1.274 16.176
- Additions of the year .…Å.[.[.[.[1.[1.1.1.… 0 1.102 1.102
- Disposals of the year …..... 21.190 1.208 22.398
B. Acquisition value of assets
held, end MtMG.….…u.ssssererrseesesersrsesserne nerne 117.872 11.101 128.973
C. Property revaluation begining —([(|1.1.|…. 0 0 0
- Exchange rate adjustment of
the year sG.dssseccceeeeseseseerseeseser renee 0 0 0
- Revaluation of the year .….[.[.[.1.[1.1… 0 0 0
- Revaluat. of the year reversed 0 0 0
D. Property revaluation held, end .…..... 0 0
E. Depreciation and writedown
beginnng…...sssenccererse 61.136 9.392 70.528
- Exchange rate adjustment of |
the year GGMG.G. .s.ssseccereserees seeren nerne 8.072 1.192 9.264
- Depreciations of the year... 211 925 1.136
- Writedown of the year …….[.[.1.… 3.846 0 3.846
- Depreciations and
Writedown reversed……..... 15.377 1.143 16.520
F. Depreciation and writedown of
assets held, end ……..ussssrererererreree 57.888 10.366 68.254
G. Portfolio booked, end 2... 59.984 735 60.719
Portofolio booked, beginning…..[.[.[.[.[.[1.[.1.1.[.… 63.024 541 63.565
Recent tax assessment of real property 59.984
Immediate amortizations on machinery
and equipment etc. have been made
during the financial year totalling .…….[.[.[.[.1.[.]. 1.185 1.185
JYSKE BANK (Gibraltar) Whole "000"DKK FB 20
Notes on the annual accounts 1999
Re: Liabilities 1999 1998
Debt to credit institutions & central banks
Debt to central banks…...........ssssceneverereeresrersneeeere 0 0
Debt to credit institutions.…............ssssseneeeereeeenee 9.336.476 6.726.205
Total Debt to credit institutions & central banks.… 9.336.476 6.726.205
Deposits
Deposits on demand 1.….W..u…..sssssseessersesrsrrrsreseseenee 1.816.422 1.326.737
Deposits at notice …...….u.u.sssessrerrenssrerererrssssssnensnee 0 0
Time deposits …....….u…..ussssenseseesssserrrrrerrsnn sr eee seven eee 604.905 585.884
Special categories of deposits 2... 0 0
Total deposits ….GW.u.uu.sssesereereeersrreresnr renser seeren 2.421.327 1.912.621
Provisions for commitments
Provisions for pension commitments…..[.[.[.[.[.[.[.[1.1.… 0 0
Tax provision for the year….....….u...ssssenerversserererrreee 0 0
Provisions for other commitments 0 0
Total provisions for commitments……..............… 0 0
m
—
JYSKE BANK (Gibraltar)
Notes on the annual accounts 1999
Genuine sale and repurchase transactions and reverse sale and
repurchase transactions (Repos/Reverse repos)
Of the below assets genuine sale and repurchase transactions
account for:
Claims on credit institutions & central bankseG..ssssseereeeereesreee
Loan and advances G..dssssceeeerrerrrreeererererrrt rer rerr rr
Of the below liabilities genuine sale and repurchase transactions
account for:
Debt to credit institutions & central banks.….….G.Gu.sssscsnrrerrerrere
Deposits GM ..sscsssererrrsererderee renterne nerne
Assets included in genuine sale and repurchase transactions:
Assets
5, BondS.……G.G…G..ssceeeereeererereerrerer rer renerne
6. Shares, etc. GM.uwG.sssseceeeeeseerrsserrererer renerne
7... Holdings in associated undertakings, etc. GG. .ssssrrssesrere
8... Holdings in affiliated undertakings……...sssssssrnsnnnenerenener
10. Tangible assets M…….WG…G.… scenerne
Whole "000"DKK
1999
……
……
…
O OO O OoO
FB 21
1998
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Niue
Asset item.
Liability item.
SELE ELLERS REE ERE ERE LEREEESER LER EREELELEE
1. Debt to credit institutions ….X..sssenerrrererrrrrrrees
2. Deposits …Å.[.
3. Issued bonds….u.Xu.u.u..s.dseeveerereeverre renees treer rt ene nere rner
Total liability items
enterprises and
other significant
holdings
JO ODO oOo
OEQOO oOo
JYSKE BANK (Gibraltar) Whole "000"DKK FB 22
Notes on the annual accounts 1999 1999 1998
Balances with affiliated and associated undertakings, etc in the group
Affiliated Affiliated
Asset item. enterprises enterprises
Claims on credit institutions and central banks…… 2.742.063 2.050.647
Loans and advances ….....ssssecseeceerersereesterrerr rr nerne 0 0
Bonds…Å…..…..u.udemennereresneeense sene reverse serne v er eerv erne renere ne nnene 0 0
Total asset items …(1..W.W.Xu.u.ddssenerreersese nerve sener vennerne nere 2.742.063 2.050.647
Liability item.
1. Debt to credit institutions .…….u..ssseneerererrrrerrrss 9.329.558 6.723.944
2. Deposits MM M…….sssssseceerersesesrerrenerrnnnee nerne nn rn nnnee Q 0
3. Issued bonds…....u.u.ssevesrseeereenereereere erne renen tesen nere 0 0
Total liability items ….X.W.u.sssseserverseseersene serene sense venne 9.329.558 6.723.944
Associated Associated
enterprises and
other significant
holdings
OQ QOO Oo
OQ OOo &Oo
This financial statement has been prepared by the parent company, Jyske
Bank A/S, in compliance with the Danish accounting principles for credit
institutions, etc.
Silkeborg, 21 February 2000
The board of Management:
Anders Dam GE Larsen or Nielsen
ffa bl
/ Jens Borum
(I
r
AJ
(=
JYSKE BANK (GIBRALTAR) NOMINEES LTD.
AlS 2.
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 1
>
su Profit and loss account for the financial year 1999 1999 1998
1... Interest receivable …….Wu.u.u.dsssssereerererssrsserressneesersessanenenssenrsess anse nssg ennen 0
2. Interest payable.…..u.u.u.dessseseeserseerersensrssn seven er nere sneen ennen rese denne ns ennen 0
A.. Net income from interest …..u.u.u.sssssscessseeereeererersrsrdereeensereenessenensnnnnennee 0
3... Dividend on shares, etc., and other holdings .....Gu...udsscersseesrsrrrsseseee 0
4... Charges and commissions receivable, 2M.…..sesceveceneseseresseeeseresennrene Q
5... Charges and commissions payable, 1(….u..ssssscnsserererereererssserereerennnee 0
B. Net income from interest and charges …....….sssccseeereesserennennrernnsennesee 0
6. Market revaluation…..….….u.sssseseerreesseerreeereenessenereen renses eres ene sn esser nes 0
7 Other ordinary income M1..ssssscseeeresereeseerenerererrerenernenereen sn segen sener nsee 0
8. Total staff costs, etc. and administrative expenses MM... 0
9. Depreciation of & write-downs on intangible and tangible assets .….. Q
10. Other ordinary charges M1.….…..sssssserseeresssererssertesesreesrenee renee nerne ene nes 0
11... Depn. and provisions for loss on bad debts …M.….sssscereerereseerereseesneeer Q
12... Price adjustments of participating interests in
associated and affiliated enterprises ….u.u..ssssnecserererenereeseeerenverenesee 0
C... Profit/loss on ordinary activities ......…...senescesersrreseeeeressereesese renser eee 0
13. Extraordinary income …MG ssscsscerseeeeeerererersenerersensersenres seeren narrede nkns 0
14... Extraordinary charges ……..sssseseverseseererssesersansenresereseees serene ennen nen 0
FE 15. Tax sssssseseseceserereserenesenerseseessvenssenesereernsssensseesrene rener eres n erne renen sen nnr ner 0
SB D.. Profit/loss for the financial year …….X.u.u.sssscserseeseeeeeesereereenennrre nen nnnesnege Q
Distribution of profits:
1. Profit/loss for the financial year …..........sssscssesereerrenesenseeesserrresnenen 0
2... Brought forward from prior years …...ddsesnsessrrsssererenereseenese ses neennennee 0
A.. Total amount available for distribution 1(….W….u..u.scneseseererseersessnererseeneneee 0
3. Dividends .M.…..ssssecerenersrsessererrenenerenserensn serene terts ernn ens arsend sens rr nnenee 0
4... Various other purposes MM. .sssssceserresreresnssereserersnserrrenseen seerne renerne 0
5... Appropriation to own funds…....sscseveesereresenssrseereene renerne ener en nnee 0
B. Total distribution of the amount available …...W.GWu.u.u..sseessersrsererrrsssrssnenes 0
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 2
Balance sheet as at the end of the financial year 1999 1999 1998
ASSETS
1.… Cash in hand and cliaims at call on central banks 0 0
2... Treasury bills and other bills eligible for refinancing with
central banks 0 0
3... Claims on credit institutions and central banks 1... 2 2
4... Loans and advances …..ssseseserrreersesesseterer tee eren erne rn rnneee 0 0
5. Bonds.…GGd.vsseveveveereenseernesssenserresesegsesnnnn ganen nens sees nere rn sene nseesnnneenee 0 0
6. Shares, etc. ,MGMG ss sececcersereesrsasersnserssesneneeesenenen vennen nen enets ersnreee Q 0
7. Holdings in associated enterprises, etc. .…..u.u.u.X.sssccseceeereereesee 0 0
8... Holdings in affiliated enterprise s….......W.u..sseserseerresserseesrnsennser 0 0
9. Intangible assets …M..Wu.u..dssceesrereesereseeseereesen eneste rener serene rare 0 0
10. Tangible assets 1(.….….G....ssscsscsserseseesereressesene renere rese en enn rn sergent 0 0
11... Own holdings sMtMuvwssssssereseeeserereseesensreseneeeerrenee nerne seere sener seree 0 0
12. Other assets M].u.sssseseseseresereesserssnressenene rue ssernsen enes enge rsessnneer 0 0
13... Prepayments and accrued income M1.W..ssscseereeseeenerrsereseesee 0 0
Total assets MM..…..ssssevcseenevssnesersneserressnenenneeeenenn enes de reen snes serene nere ss see 2 2
LIABILITIES
1... Debt to credit institutions and central banks …..ssserseseressere 0 0
2. Deposits sMGG.….….ssscccersererseeerrseserenssesenvenseesnen teens sneen ne senere nere nneee 0 0
3. Issued bonds…Å…...…..sessceesseserteseeerseeese nens n sees en rensende na rasen rese sengene 0 0
4... Other liabilities ..…...ssssesseererseessereresresensesneensn sener nensrnnennnee Q 0
5, Accruals and deferred income …….Gu.u..dsseseseerseresssrsenersenreeeneee 0 0
6... Provisions for liabilities and charges…..Gudu.ussceserserrerrseseeneseneees Q 0
7. Subordinated capital investments …….u.u.u.u.ssnerserrssersseeeseserneeer 0 Q
8... Own funds
8.1 Share capital/cooperative capital/guarantee capital ……. 2 2
8.2 Share premium account (..…..sssseneseserenesensneeneenerenversenenee 0 0
8.3 Reserves sG..sssseccessererseeressnsensneesseeensneesnneeeeneke sne nennnnennsenee 0 0
8.4 Revaluation reserves MG... ssscccssersererersseereeveneseseereneensnesneee Q 0
8.5 Brought forward from prior years ……..u..u.ssscecererernsererserrnee 0 0
8.6 Carried forward from profit/loss for the year 1... 0 0
Total own funds MM….G…..sssesenceserereeeeneseenrusesevensn senere sense e ns r ennen gsee 2 2
Total liabilities 2….…..sssssseeerreeeerrerersereensnesseeen sense esenernn ener n sne rnnnenee 2 2
OFF-BALANCE-SHEET ITEMS
1... Guarantees, etc. sM....ssseeseeereresesreseesssesenereennnn renees ser nenennnee 0 0
2. Other commitments .......ssssserseseservenseerererenerene reen sne ternene 0 0
Total off-balance-sheet items ….ssssseesseeesee renses reneserse rss erns ennen Q Q
Derivatives are specificed in the notes FB 5 - FB 9
For)
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB3
X- Notes on the annual accounts 1999 1999
Own funds
Capital movements Opning Additional Capital Addition in
balance capital / write down — connection
bonus shares with merger
Share/cooperative/guarantee capital . 2 0 0 0
Share premium account …….W...sscseerre 0 0 0 0
Undistributable savings bank reserve... 0 0 0 0
Reserves for net write-ups according
to the equity method ÅG... .ussscsssesssrseeseee 0 0 0 0
Other reserves …..sesserererererenerererreree 0 0 0 0
Revaluation reserves GG. .s.dmsssceseererenereee 0 Q 0 0
Brought forward from prior years .….. 0 0 Q 0
Total own funds .….G…..sscecerereeeressreneerere 2 0 0 Q
Closeing
Additions Disposal Balance
Share/cooperative/guarantee capital . 0 0 2
Share premium account MM.G….G.. sscccrrsereer 0 0 0
Undistributable savings bank reserve. Q 0 0
Reserves for net write-ups according
to the equity method .….…..ssseerereereerrer 0 0 O
Other reserves G…M.GW…..sscevereeeesernerererererneer 0 0 0
Revaluation reserves Mu. .ussserererererrerere 0 0 0
Brought forward from prior years .….. 0 0 0
Total own funds MGM. sssseseserereeerersereneener 0 0 2
SOLVENCY RATIO CALCULATION
1. Core capital after deductions …..W.W.u.u.sssserserreerereeeseeerereerenssn senere serne re nr renee
2. Surbordinated loan capital and short-term supplementary capital 1...
3. Weighted assets not included in the trading portfolio...
4. Weighted assets with market risks, etc…..W.u..dssscsssserererererrs esserne nene
5. Total weighted assets ( items 3+4) GMG.u.G….…..sssesererereerererrerser ener renerne rear rerne
6. Core capital after deductions as % of total weighted assets …..u.u.u..ddcscsrrse
7. Solvency ratio pursuant to BSL S 21 (1)GMG ss secercererererrrsese renerne (1 decimal) …
z
muer
Rue
1) Calculated according to the order of the Danish Financial Supervisory Authority of 19 June
1977 on the capital adequacy requirements of banks and certain financial institutions.
Jyske Bank (Gibraltar) Nominees Ltd.
Notes on the annual accounts 1999
Guarantees and other commitments
Off-balance-sheet items, item 1
Guarantees, etc.
1... Guarantees
1.1. Financial guarantees …...G..sdemssnsereersteersssenssnseesrevenneesee
1.2. Other guarantees….....ssenseserserrsesrererernserrennerennerensnen
1.3: Acceptances and endorsements, etc…....GW.u.u.ssesssererseee
Total guarantees, etc. M.M... ssccnserrrdesereservenssresnessregennnsnnese nende
Off-balance-sheet items, item 2
Tr Other commitments
BX 2.1. Irrevocable standby letters of credit …...u.u.u.ssssnseseresese
2.2 Sales with an option to repurchase …..….u..u.sencsserssesrrrere
2.3 Other commitments ….u.u..ssscssseessreererseeserrenrrenernesserneee
Total other commitments ….....sssssnesreseenenessersneesensenrserssnnnee
kw
sm
Whole "000"DKK
1999
OO&o
O OG oOo
FB 4
1998
[æ oo Re]
(eee Rke]
sad
Jyske Bank (Gibraltar) Nominees Ltd.
X<- Notes on the annual accounts 1999
(Sp,
bug
Whole "000"DKK
FB 5
1999
Derivatives
By remaining time to redemption
Up to 3 months
Nominal Net market
value value
3 months to 1 year
Net market
Nominal
value
value
Foreign-exchange contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreements, bought .…
Forward Rate Agreements, sold 1—(W1|.[|][..
Equity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
" Options, acquired 1... sssscserersererrere
| Options, issued .……. svssessscssereseeresersveseree
Commodity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired …M(.(.(.W|….MW..sscsscereseereesrseeee
Options, issued G…G…G.GWesssenescerserereresenesnere
Other derived contracts…...u..sscsccesereee
QOOODO ODO oOo
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OODQOSO0O0O0O0DDO 0O Oo
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ODO OD O
OQDOO oOo
ODO oOo
O OD ODO oOo
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ODD oOo
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Alu
RS
Er
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Jyske Bank (Gibraltar) Nominees Ltd.
Notes on the annual accounts 1999
Whole "000"DKK
FB 6
1999
Derivatives 1 to 5 years Exceeding 5 years
By remaining time to redemption Nominal Net market Nominal Net market
value value value value
Foreign-exchange contracts
Forward contracts / futures, bought. 0 0 0 0
Forward contracts / futures, sold….... 0 Q 0 0
SWapS.Gssssssseeceeeneneereteenessnsererennsen anne 0 0 0 0
Options, acquired ….….W...ssenserererereersner Q 0 0 0
Options, issued M.…..…..sssnesereresreressrsnene 0 0 0 0
Interest-rate contracts
Forward contracts / futures, bought. 0 0 0 0
Forward contracts / futures, sold... 0 Q 0 0
Forward Rate Agreements, bought... 0 0 0 0
Forward Rate Agreements, sold .…Å….. 0 0 0 0
SWaAPpS.….ussssserceseeeeneeesse serene renen senee 0 0 0 0
Options, acquired 1(1.(|W|MXssccssererseersereee 0 0 0 0
Options, issued Å….u.dssscecrerseeeeerereeee 0 0 0 0
Equity contracts
Forward contracts / futures, bought... 0 0 0 0
Forward contracts / futures, sold... 0 Q 0 0
BA Options, acquired ….Wu.u..sseccesesseresree 0 0 0 0
Options, issued 2(….….ssscscsererrereseenenser 0 0 0 0
Commodity contracts
Forward contracts / futures, bought. 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired …..W...ssscereeserersrere 0 0 0 0
Options, issued M(.(.W"…..sscesrerrreererererennee 0 0 0 0
Other derived contracts….......sss 0 0 0 0
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 7
Notes on the annual accounts 1999 1999
Derivatives Total
By remaining time to redemption Nominal Net market
value value
Foreign-exchange contracts
Forward contracis / futures, bought….…..dsssevcerererseevenevserene nens
Forward contracts / futures, sold…..W.u..ddssssnseueeeeeseree væsen esenene
Options, acquired M.…....ssensesevesversenenssnessrsnnsn erne nnesseenen ennen see
Options, issued M..….sssssesesrereserenreneneeneersrereenersrnenesensersee rese rsnnes
nn
z
ø
DD
nm
OQOoOOo oo
Interest-rate contracts
Forward confiracts / futures, bought….….....….…..sssssesseeereereere renser
Forward contracts / futures, s0old……..u.u..ssvsesserseveseressssereenerees
Forward Rate Agreements, bought …...….u.u..sscenerressseseresneresereee
Forward Rate Agreements, sold …......u.ssessncsrereeesserseeeseeerneneree
OQDQOOC0O od oOo
Equity contracts
Forward contracts / futures, bought …......sssencevsrsrereerereeesene
Forward contracts / futures, sold…......snveressererrsrresererersrsneee
Options, acquired M….W.…..v.sssercersersesenersenrereerserseneeneneneeneebsereenenenee
Options, issued M.…..sssseveseeeseeessrereeeenerse renen ense rese ere ver bereeeeeer
O &OO 0O oOo
Commodity contracts
Forward contracts / futures, bought.…...sssesereresreererreseenerneee
Forward contracts / futures, sold…...ssseseveresereeeseressnensenerereensenere
Options, acquired …M.W.u..dsssescerertereereresreensssenneeseneren nens nen gene
Options, issued .…....sseserserereerneesererserereerrereresne rese nn snarere rnenee
OGQOg>O GO
Other derived contraCts…….......smsecevereereeseersrseennsrere renerne nerne 0
Total net market value…...u..sssseevenerererreereserseevenrnennsen reen
Odo oOo oOo OJOOQOOO0O SO &Oo oOo ODD oOo
O QO QO oOo
> Notes on the annual accounts 1999
Jyske Bank (Gibraltar) Nominees Ltd.
Whole "000"DKK
FB 8
1999
Derivatives
Market value
Pos. Neg.
Average
market value
Pos.
Neg.
Foreign-exchange contracts
Forward contracts / futures, bought...
Forward contracts / futures, sold...
Options, acquired ÅG. sdsscsccesererrreressereee
Options, issued 21. seeren
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreements, bought .…
Forward Rate Agreements, sold …....
Equity contracts
Forward contracts / futures, bought...
Forward contracts / futures, sold...
Options, acquired 1….u.cssscersrssrsererneee
Options, issued .M…M….W….…. .ssssssecserrrernrernsrrnene .
Commodity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired …..…...sscenseerrrerrenreee
Options, issued M1.W…|.…...ssesrererrrereerderennee
OCOCOOS5S0OO GO oOo OOS GO oOo
O ODO OoO
O O OD O
OQOOCOO OIO O (jekkekkeReRe]
O O O O
ODO oOo
ODOÆOODSOCO OD oOo (ele Rookie]
O Og OD O
O oOo Oo
O0VO0O0O00oo
OOGdD do oOo
ODO &bd oOo
O OG O
æ
Å )
Jyske Bank (Gibraltar) Nominees Ltd.
Notes on the annual accounts 1999
Whole "000"DKK
Derivatives
Marked value of
non-guaranteed
contracts
Pos. Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired MG sd ssssecsseerresrresererer
Options, issued MG. sssccceerrrerreserseseernnee
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreements, bought .…
Forward Rate Agreements, sold …—M[([|[.[|].
Equity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired ….W.…..sssessesrererrrersnnee
Options, issued MG. sscsererseeeerrserseserneere
Commodity contracts
Forward contracts / futures, bought...
Forward contracts / futures, sold...
Options, acquired Mu. ssccccreerererrereresrsee
Options, issued M.G. sssncceecesrreerrerersrereee
Other derived contracts….u..ssscsrre.
OJOÆOJO0O0O0O OCO0OG0G0O0O>S0O0O0OOo OQ&GOGQG0 0
QOQDJOO
oOo
oOO oOo OCQCQOOOOO OQOQO00OoOo
OQOQDOO
FB 9
1999
Outstanding sport transactions
Nominal
Market value
value Pos. | Neg.
Net market
value
Foreign-exchange transact. purchase
Foreign-exchange transactions, sale.
Interest-rate transactions, purchase …
Interest-rate transactions, sale …—(.[|.[|[..
Equity transactions, purchase .….[..
Equity transactions, Sale...
Other transactions, purchase 1...
Other transactions, sale….....….u.dcccse
Total
OQOJOJOO0QDOJOOOGDO ODO
OQOOJOOOQGOO
OQOODOSO0OIOOOS5S0O0O0O0O DO Oo
OOGOGOOGGOQGOO&O
my
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 10
Notes on the annual accounts 1999 1999 1998
Credit risks Advances + Advances +
guarantees guarantees
Advances and guarantees according to as % at the as % at the
sesctors and branches end of year end of year
1... Public authorities…..ssssseneerrerersesesesrnsseese venerne see see nerne sesnee - -
2, Industries…..u.u.u.un.s.seseeeeereerereeerenernersene ener enne nerne enes nere rene nnneee - -
2.1. Agriculture, hunting and forestry…...ssssrsessesrrereererrnseesenennnee - -
2,2. Fisheriges…...seveseeeeereereesre seeren ten seks rrrnn renee n nerne eee serene renerne renee - -
2.3 Manufacturing companies, extractive industries
electricity, gas, water and heating plants…....W.u.u.cerererreeree - -
2.4. Building and construction companies…....W.u.s.ssssersereereneree - -
2.5 Trade, catering and hotel businesses…..u.u.u.dvdcssesseeererrererrereer - -
2.6 Transport, mail and telphone…....ssssscseserrerseseree een sner - -
2.7. Credit and financial institutions and
insurance agencies….u.Gu.u..dssseseseereererereererernere teens snarere snanne - -
2.8. Administation and sale of real estate,
business service.G.vsssssssseressereserersere ene ree sen rne renen nr - -
2.9. Others…..u.u.usecevereserssrernendersensersenssen serne renee rense ens e renerne see - -
Total…….….G...ussssvsevenererreseesersresnennn ere ee vennerne sene rsrene engene ener eneereenees - -
3. Private…....usssessceveerssnsensesessestenssse renee reen renere nens ennen nen - -
1-3 Total….u.u.u..vdssreseereersveressrnsenessensenssnene ene enge reen nerne reservere - -
Credit risk on derivatives
Positive market value Counter-party including risk weighting
(after counter-party risk) 0% 20 % 100 %
Positive market value after n 0 0 0
Please see the order Danish Financial Supervisory Authority S27 (3) and S12, for a list of
counter parties within the 3 risk categories.
Subordinated assets Associated Affiliated Other
Undertakings Undertakings Undertakings
Subordinated assets….. 0 0 0
Accumulated provisions 1999 1998
Provisions at the end of the year on advances and guarantees …... 0 0
Provisions at the end of the year on credit institutions and other
items involving a credit risk …M….W….ssssccsssrereererserrrreerereerere rn 0 0
Total accumulated provsions MG. svssssssrsserereseeeerereererse renterne ne serne 0 O
Accumulated provisions on advances and guarantees as a
percentage of advances and guarantees at the end of the year 0,0 0,0
0
Total non-performing assets at year end 1….u..dsscercsereernnrerrrren 0
En Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 11
.…… Notes on the annual accounts 1999 1999 1998
Market risks
CURRENCY EXPOSURE
Total assets in forreign currencies….u..u..ssseseesssererereesvsesenesensnseseeeesnrnnnen 2
Total liabilities in forreign Ccurrencies….......sssescsesenresreresssrerrnnseeererennenenenene 2
Currency exposure Tesssmonoreuererrereeseeseesensesseseeeenennerereeeeenssensesnsensennssss even nnnen -
Currency exposure 1 as a percentage of core capital after deduction..…. -
Currency exposure Z.u.ssceceseceeeeeeeneeerereesneeensevenesensensenes ses n seen ne sense endte erne ende -
Currency exposure 2 as a percentage of core capital after deduction…. -
INTEREST-RATE EXPOSURE
Total interest-rate exposure on debt instruments ….........sssssssesrrsseseseses -
Interest rate exposure by currency involving largest interest-
rate exposure:
1. DKK << sciio,z. svevereereresenrsseeeeseeeneseseensseeeseesesenenes -
2. XXX 00000—0—— secsseeeverresesereseneensnessseneveneenseseenenenee -
3. XXX 000ic00o—o—- semeeneveesesssnssseeeseveennnereeneeseseerdentenee -
4. XXX 00000oo—— severeverenenerssssereeseseeneneeneeeenenveenneensee -
5. XXX 00000——— suesessvenravereeensenenesennteesnneeesessevenenneee -
6. XXX 0000—oo— seweerereereeseerreeeeeenesseseneneneneeneeneeneere -
7. Other currencies ssseneeeeeesuunssseneereveneneveneennennesenaneeense -
Ferm
Jyske Bank (Gibraltar) Nominees Ltd.
X- Notes on the annual accounts 1999
r
OG Ros
FB 12
1998
Assets and liabilities by residual maturity
Assets at credit institutions and central banks
1. At call …...GW.u.u.uvsssscessserenesesrsssesneeenneen ennen neeensnegenseenngee
2. Up to 3 months ……..…...ssseseveseereserrsee rener ersrenee enkes nes rener
3. Over 3 months and up to one year ….…..sssccneseereerenss
4. Over one year and up to 5 years 2….….….ssesereresrrseeresene
5, Over 5 years s..dssenseereessersssersese reen nen nens ennen ener rr nnnne
Advances
1. At call GGM... ssssssnessesersreresesessse sene esseeenenrsnese ennen nen nnng nes
2. Up to 3 months M.G.G….ssccecesereserssersererenesseser rens n nende nnee
3. Over 3 months and up to one year …..….sssseseererreeee
Debt to credit institutions and central banks
1. At call (.GWG….G.….ssssssverresersseseeesenenenenes sene eenenseneneeer snes rene snner
2. Up to 3 months 2M.M.….Msssesseserersee ennen eeerrnsnsennr danerne
3. Over 3 months and up to one year (GG... sssccsereereeernee
Deposits
| 1. At call …….….W….u….udssssscsreseesesseneneerrner sener enenennseennseensnnen ener nsgnee
2. Up to 3 months ….W.W.u..sseseseresrrersneevereeenenss renen rss rsnene
3. Over 3 months and up to one year …M1..W.GW..sscssesereserneee
4. Over one year and up to 5 years …..scerrceeseeerseerrseee
Issued bons, etc.
1. At call .Å….G….G.Gu.udusesevseeseseserrneserrsnsrsene senere rskener senere nerne
2. Up to 3 months MGM .….….. .ssssesereeseresereeeseserrseeserrneneneenngennere
3. Over 3 months and up to one year (.….sssceserrersennee
Whole "000"DKK
1999
2
0
0
0
0
2
OOGOO0OSO0OGO CO JQOGOGOSO oOo OJQOÆO0O0O0OO oOo
OOQOQO00O000 GO
OBQO0O0GOO0OO OO0G0GSGJ0OOO NOODOOON
OQDOOSDOO
OQGoOoO oOo
Foam
væ;
X
LA
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Jyske Bank (Gibraltar) Nominees Ltd.
<X<- Notes on the annual accounts 1999
Re:
Profit and loss account
Interest receivable/premium/discount on forward
transactions of:
Claims on credit institutions and central banks .............….
Total derivatives…….u.u.ssevevesersseersenenesee se nsser reen eeneserener rese
of which
Foreign-exchange contracts ÅM…...ssssssereseersnsenessrenneeennee
Interest rate contracts M….X..smssseessreesevererveeseneseennesesenesner
Equity contracts M...ssssseersseseeesseeseseessnessesenser anne rennsenge
Commodity contracts…..G.u.u.sssssseseresreerseresessersnreneser enker
Other contracts …M…..sssssseveesevesssennsessernvnsen sengen senennse ene
Others (+/-) sesssecesesesesereesesesersene renser renen sense rr er tern tennnnee
Total interest receivable…....sesnesrnsresrsssrneseenerenrnessnnesene
Of which genuine sale and repurchase transactions under
Claims on credit institutions and central banks…...[.U.[.[.
Loans and advances…...….G..u..ssscesecercesreverssevvssevsnsnn esse veere runer
Interest payable to:
Credit institutions and central banks…..Gu...sssccceeessserseernnee
Deposits,….…..sssseereeerseserseresesesseennereeesn renere ent t ener rare rn rnn eee
Issued bonds …...ssvevceeeeereerrvereeenenerene renee erne eee nd revet neneene
Total interest payable…...Wu..ussscsecerressreserserseseeenrneen see nnkernee
>=" Of which genuine sale and repurchase transactions under
Credit institutions and central banks…...….G..sssscerererunesrsenenee
Deposits….G...sssssscererrerseeessenesneresere ennen regeres renser en nn sande
Dividend on:
SharesG.ssesevecerereeeresseserrrsesennereeneesnegreesessnsene renerne en ens enn rerer
Holdings in associated undertakings, etc…...Gu..ssssssererrer
Holdings in affiliated undertakings 2M.….….…..sssssseseseereeenrsaneee
Total dividend on shares and other holdings ….............
Whole "000"DKK
1999
O OD oOo
OQOCOOO oOo
O O
&O O OQO0O0O&O oo
O OG oOo
FB 13
1998
ODO oOo
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Ret
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 14
Notes on the annual accounts 1999
Re: Profit and loss account (continued) 1999 1998
6. Price adjustments 1) of:
Shares.G..sssssevereeeereereerseessrnennerernneeneenneennn ennen sne ner se renen snes en
Advances with fixed interest.......….W..u..ssmssenenererreresenesesernsesee
Exchange-rate adjustment of foreign Currency…........ssccere
Total other financial instruments (Derivatives)...
of which
Foreign-exchange contracts M].…...enveveseresersereeresnenserereener
Interest rate contracts 1…..sssssceneerreerseessereereensenneen enedes
Equity contracts MGM. ..ssssssssesevereeeeneesresseresesees see rsenersesenenenneee
Comodisty contracts…..u.u.u..ssssenseerseersersserserevenesessnseneneeneveren
Other contracts 1M(….W...sssssserrerereeerereneeeerrn sneen nere eegens nende
ODD ODO Oo
OOS oo
Total price adjustments ….W...sseceserersseeesssesne engene sure sene nesnee 0
Of which relating to pension pO0O!S ……....Gu..ssssereresserenereeseee 0
1) The sub-items include price adjustment of securities, etc., forming part of the pension
pools. Adjustments are made for these price adjustments in the item pension pools
below.
OQOQOSIO IO oOo
OVOOO0O oOo
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK
se
x- Notes on the annual accounts 1999
Re: Profit and loss account (continued) 1999
8. Staff costs and administrative expenses
Salaries and remuneration to Supervisory Board,
Board of Managers and Board of Representatives
Supervisory Board Ms. ssssssesesesrsererersssess renerne rens rnkeskerseen
Board of Managers…..….u.u..ssscevereeererrrrerersreners ersten ennen tres see nerne
Board of Representatives….Gu.u.u..dseessseresserersregesnssersennene nen rnnen
O ODO oOo
Staff costs
Wages and salaries …..….u..sssssseserrrserrrestsernsern erne rsernnrnrnnes
Pensions ssmsscsveeseseresereser nv ere deserve ener sst esse eee sense enes renee venne
eur sees eee ES eee ennen seven tesen sene ne eneret eneeseer
Other administrative expenses .…….W.…..…..sssssesseensssseeserennrenn ennen
Total staff costs and administrative expenses…...sssscsnerereere
12. Price adjustments of participating interests in associated and
affiliated undertakings
Price adjustment of holdings in associated undertakings, etc. 0
Price adjustment of holdings in affiliated undertakings .….[.[.[. 0
Total price adj. of participating interests in associated and
affiliated undertakings…..u.u.u.sssenereserenerensereerenneesneesesnene nen reen see 0
15. Tax
Estimated tax on the year's income …….….….ssscssessesesrrenneersnneenenneee
Deferred tax (timing differences)......u.u...ssscseserrersrenrnerserereneenner
Adj. of tax calculated in prior years …….Wu.u.u.u..vdcsseserseeerrserenennnnnne
Total fax MM. sssssnsereversensussesenveneereneessen egene rene renses ses re ns erne rre sne nseneee
Supervisory Board, Board of Managers and Board of Representatives
Amount of loans, charges, securities and guarantees
issued to members of the institution's. Advances, etc.
Supervisory Board 2MG.GW.ssssssecerrererrersesresesesrnse nere rne nesker ennen Q
Board of Managers M.M ssssssenseeeesnererrsssernensersernene ennen nenesnennner 0
Board of Representatives M.G. ..…..ssnsescereseerssserereeeneeresensersersenner 0
fu)
mej
oOo
+
o
OQGOJOJO0GJ00O 0
JO OoOOo
ae
Securities
Supervisory Board 2GM….G.G…GWG. sssnsesrseserresererseserrrerereseesr ener nerne 0
Board of Managers …....ssccerreerrersesereeserernn esserne renerne rr ande 0
Re: Auditor's Fees
Total fee to auditors elected at the Annual General Meeting
in charge of the statutory audit…......ssscsseseerserernrerernesennrnenger 0
Of which for services other than auditing……......ssescsnrserrereenener 0
Re: number of employees
Average number of employees during the financial year converted
into full-time employees (1 decimal) 0,0
FB 15
1998
ODO GOD oo
oOo OQOOQGODO ODO
O &»O GOG Oo
Advances, etc.
0
0
0
Securities
0,0
ØS)
Jyske Bank (Gibraltar) Nominees Ltd.
Notes on the annual accounts 1999
Re: Assets
Claims on credit institutions & central banks
Claims at notice on central banks….u..u...ssssncenervenreeersreesennee
Claims on credit institutions………..u.u.dvdsssecerseveresenerssrrseeereneee
Total claims on credit institutions & central banks…<—…….[.[.
Total bonds ….......sssceeeresserserreree sense rv vnnener enker e enes nens reen enedes
Hereof own bonds…....ssssceseerereserervssrese renee nere nere ene snnes
Shares, etc.
Quoted on stock exchanges (….….W...ssessseeseesesereerereersnsenensnnee
Other shares…...u.u.dsssseeseeeeerreerer sner sneen nn ensnnse nens n nens
Other holdings …….W.u.u.u.seseserersseseresersersrrssessnene snert ster rkennene
Total shares, etc. 1(M(.M.W.….ssssscerverereeersssenrensne ren ener eeennsen enn nenee
a) Financial current assets valued at market value
(quoted) GM ud ssssscerseeereesererrerse rese ke kernerne rnneg
b) Difference between the purchase price of financial
current assets under a) and the higher market value
on balance sheet date …..u.u..dsssssereserrseresereenees ene nnnenene
c) Financial current assets not valued at market value
(unquoted) sMwsssssssceververserenesreserse rener rr sre renere renerne rarere
d) Difference between the purchase price of financial
current assets under c) and the higher market value
on balance sheet date 1….….u.u.ssssseessersereeesese enes serserereneee
Whole "000"DKK
1999
N N
&QO ODO 0 oOo
ODO oo
FB 16
1998
N.N
OOGd oOo
QOQOOD O
røre
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 17
NO Notes on the annual accounts 1999
Re: Assets 1999
Financial fixed assets Affiliated Associated Other
undertakings undertakings and
other significant
undertakings
holdings
A. Acquisition value, beginning ….. 0 0 0
- Exchange rate adjustment of
the year GM. .ssccererererereserssrnnnene 0 0 0
- Additions of the year …Å.[.[.[.. 0 0 0
- Disposals of the year …—.[.[.[.[.. 0 0 0
— B. Acquisition value of assets
MG! … held, end 2MMGu….ssssscceveserereeeerressesessee 0 0 0
C. Revaluation and writedown
beginnng…...ssscseseeerrererererrekreenee 0 0 0
a) Exchange rate adjustment of
the year stGG…..….ssssccsereeerernerer (+/-) 0 0 0
b) Profit and loss 2... (+/-) 0 0 0
c) Dividend …….….….. ssssseeerereeerererseneer 0 0 0
d) Difference upon acquisition... 0 0 0
e) Other capital movements….... 0 0 0
f) Revaluation and
writedown of the year ….[.[.[. 0 0 0
g) Revaluation and
writedown reversed…Å..…..ssssccere. 0 0 0
GG D. Revaluation and writedown of
assets held, end M.G... mencserrerrrrreneree 0 0 0
E. Holdings in parent companies... 0 0 0
F.. Portfolio booked, end
(B+ D+ E) sGwscecevererserrerrerssesrrrener 0 0 0
of which credit institutions …—.. 0 0 0
G. Portfolio booked, beginning ….. 0 Q 0
of which credit institutions ….. 0 0 0
(i
(
en Jyske Bank (Gibraltar) Nominees Ltd... Whole "000"DKK FB 18
>— Notes on the annual accounts 1999
Re: Assets 1999
Intangible assets Goodwill Other intangible Total
assets
A. Acquisition value, beginning .….. 0 0 0
- Exchange rate adjustment of
the year sMG..ssesccerreresensnerseeensereee 0 0 0
- Additions of the year .…... 0 0 0
- Disposals of the year ……..]. 0 0 0
B. Acquisition value of assets
held, end M.G... sseceererrererererensreserer 0 Q 0
—… C. Depreciation and writed. begining 0 0 0
Be - Exchange rate adjustment of 0 0 0
- Depreciation of the year …Å—.. 0 0 0
- Writedown of the year ….. 0 0 0
- Depreciation and writedown
reversed O 0 0
D. Depreciation and writed. held, end 0 0 0
the year G..ssscsversesenensrerererenseer 0 0 0
E. Portofolio booked, end Q 0 0
Portfolio booked, beginning .…. 0 0 0
0 0 0
Expenses of the year
GRØN 2
(CD
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 19
Notes on the annual accounts 1999
Re: Assets 1999
Tangible assets Land and Machinery, Total
buildings equipment, etc.
A. Acquisition value, beginning …... 0 0
- Exchange rate adjustment of
the year GG. sssccceresrereerereenenneer 0 0
- Additions of the year —Å(Å[.[|.|.[.|.. 0 0
- Disposals of the year .…X….]. 0 0
B. Acquisition value of assets
held, end (GW. ssssenesereesserrerrese renere 0 0
C. Property revaluation begining …—. 0
- Exchange rate adjustment of
the year GM..….…sssssescercererererserereneer 0 0
- Revaluation of the year .….[.[.[.]. 0 0
- Revaluat. of the year reversed 0 0
D. Property revaluation held, end ..….. 0 0
E. Depreciation and writedown
beginnng….G..sessenssesesesrerese serv s sees 0 0
- Exchange rate adjustment of
the year MG. .s.ssececeseresseeseneene sense 0 0
- Depreciations of the year... 0 0
- Writedown of the year .….[.[. Q 0
- Depreciations and
Writedown reversed….…........ 0 0
F. Depreciation and writedown of
assets held, end GM. .…. .sscecereeeerererees 0 0
G. Portfolio booked, end …...u.u.sss 0 0
Portofolio booked, beginning…..[.[.[.[.M[.[.[.… 0 0
Recent tax assessment of real property 0
Immediate amortizations on machinery
and equipment etc. have been made
during the financial year totalling .…....u...sssescsesesreresereseeree 0
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK
SR
> Notes on the annual accounts 1999
Re: Liabilities 1999
Debt to credit institutions & central banks
Debt to central banks…...u..dssseseeeevevenesereseenereensesee 0
Debt to credit institutions……....u..ddsssseseeeeesersseeeee 0
Total Debt to credit institutions & central banks.…
O
Deposits
Deposits on demand …(M(.….….s.ssseseee seerne ssresessseennene
Deposits at notice .….…..Wu..u.ssssecererererserensrerensenreerenne
Time deposits ÅM..u..eseseereresssreerenenen ene ns nesker enke see
Special categories of deposits …M…..…..sssssnveresreesrsrere
Total deposits …M…..sssssecessresseseneereresenee nn enn sreseer
fro
ODD oOo O
Provisions for commitments
Provisions for pension commitments
Tax provision for the year…...W....ssscereerrerserreesnesese
Provisions for other commitments ses
Total provisions for Commitments...
OQ ODO oOo
(
… gr
FB 20
1998
O
OODOIDO oOo oOo
O OG O
6 då
Jyske Bank (Gibraltar) Nominees Ltd.
Notes on the annual accounts 1999
Genuine sale and repurchase transactions and reverse sale and
repurchase transactions (Repos/Reverse repos)
Of the below assets genuine sale and repurchase transactions
account for:
Claims on credit institutions & central banks……...ssscnreresesr:
Loan and advances ….ussssernesesevenereesee rene vnenersnenenersessnseneneee
Of the below liabilities genuine sale and repurchase transactions
account for:
Debt to credit institutions & central banks…...u..dsscenereererrreser
Deposits Mu. ssssuseseerrerserstererrrenerrekrenes sneen rear re ener nnee
Assets included in genuine sale and repurchase transactions:
Assets
5... BondS…….G.G..u.u.v.dccssseeeeerrereereserererersse nn ere e nes r renerne kernen ennen
6. Shares, etc. 1m...susseseseeessssereersereeneese renees ennen renterne sne
7. Holdings in associated undertakings, etc. (C.W. ssscereseere
8. Holdings in affiliated undertakings….......sssscserereereennre
10. Tangible assets Å…M….u.G…..G.G.sssssccserserreererere renere ere ennnee
Whole "000"DKK
1999
em
ODO oOo
FB 21
1998
ODO DO oOo
Jyske Bank (Gibraltar) Nominees Ltd. Whole "000"DKK FB 22
»— Notes on the annual accounts 1999 1999 1998
Balances with affiliated and associated undertakings, etc in the group
Affiliated Affiliated
Asset item. enterprises enterprises
3... Claims on credit institutions and central banks…… . 2 2
4... Loans and advances ….….….….sssvessereeevereereesrserrsensener 0 0
5... Bonds.….G.GudXu.ddsseesseessereenrerserenre veere ene erne venne sner enn sengene ne 0 0
Total asset items …(...dsdssenesesvesenevreeveevsesenensensennee 2 2
CT
VO
Liability item.
1. Debt to credit institutions .…....usssseneereernerereseene 0 Q
2. Deposits ……MGM….sMu.ssscceseeerererereereeesssseresnnsersene renen sennnee 0 0
3. Issued bonds….….…..sssessesrereereserere snes ngeresn renses nserenenene 0 0
Total liability items ….Xu.u.Xuu.u.sseseseeesereersseneersessesnee renee 0 0
Associated Associated
enterprises and enterprises and
other significant — other significant
Asset item. holdings holdings
å 3... Claims on credit institutions and central banks…... 0 0
4... Loans and advances G.…G….M…sssccseeereseereeereeeer ere rrerrnennne 0 0
5... Bonds.…….G.G…..sssveveseereessereenrensensensereendengene reen seerne n rener enen 0 0
Total asset items …..u..sscsserersseneeneseeneereereeenseneenen Q 0
Liability item.
1. Debt to credit institutions .…….u.Wud.u.u..ssseceresseerserrese 0 (9
2. DepositsS GM. .M…ssssseseererssersersrrerserrenr erne nr ennen renee 0 0
3. Issued bonds…..cdsseseereererereressee ets nse ns even ere r sen rens 0 Q
Total liability items M1..X.u.u.sdssneseserereeenersrserrerererenneneee 0 0
This financial statement has been prepared by the parent company, Jyske
Bank A/S, in compliance with the Danish accounting principles for credit
institutions, etc.
Silkeborg, 21 February 2000
The board of Management:
LeZf F. Larsen Visti Nielsen
ZR
/Jens Borum
| Als 57.90
Fr
Ni
Erhverys.
Selskabsstyrelsen
29 MRS, 2999
KTU
Lu
JYSKE BANK (GIBRALTAR) MANAGEMENT LTD.
GIBRALTAR
Årsregnskab for 1999
Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB 1
Profit and loss account for the financial year 1999 1999 1998
1... Interest receivable 1(.….ssssssseeeerrreseressresnessserreseresses ens ens eres teser e sne enee 0
2. Interest payable….....ssensessersesesarsssssersee rss eree ersten sense enes rr nnennne 0
AA. Net income from interest …..ssesscsessesererrrretrererreser eres teenerrrrennnnnee 0
3... Dividend on shares, etc., and other holdings ....u.u..sscceereesersrseesganee 0
4... Charges and commissions receivable, 2M…....cesecererssreeereerererereneesenereee 0
5... Charges and commissions payable, Mu. .ssssscerersrreesesresererrreseenrsensenee 0
B. Net income from interest and charges M…...ssscenerevereereeenrssrernenereensnnen 0
6... Market revaluation…..….u.u.sssnsscerversererrsrereseresseesesesenerssrnsss serene essensen Q
7 Other ordinary income .……….G.GWG. ssssceeeseseresereesereressrssreren senere renen 0
8. Total staff costs, etc. and administrative expenses ….u..u.ssssserereerrereer 0
9. Depreciation of & write-downs on intangible and tangible assets Q
10. Other ordinary charges ÅM….W….…....scssscsererereerereseeereeerseserererenerent nen rerereeee 0
11... Depn. and provisions for loss on bad debts 2…...ssscssesssrrrrsresrensnee 0
12. Price adjustments of participating interests in
associated and affiliated enterprises 1M(.u.…].….W…...u.seersrerserreeresen nens nerernrrneen 0
C..: Profit/loss on ordinary activities …..u.u..uccdssereeresreesersesennerr rr snrrenenee 0
13... Extraordinary income ÅM.…."…..sssssserereserreerseseerener reen sers renere ener ens benrnnen 0
14... Extraordinary charges .…….G…..ssscsseresssssrrerresss rese serene reneste renen nennnnee 0
15. Tax sssssensceuseserrevegesrserrseersesererseeerseesens rr rerser retn 0
D. Profit/loss for the financial year 1M(.u.ssscsserssereernereerserrrenrnrnr erne nerne 0
Distribution of profits:
1. Profit/loss for the financial year 1….u.u..ddssesereereresenereeeerenerrkrerennnnnnee 0
2... Brought forward from prior years ……...ssssessseerresrereserrreseeeeen rene nennnnrnee 0
A.. Total amount available for distribution …….u..usceceserssesrseregertennererennennee 0
3. DividendS .…….….….….ssscesererresererrerererserererrnerer rener renerne serne rens r nr 0
4... Various other purposes GM. .sssccccerererersessrereseerreesrnner resterer enrnnnner 0
5... Appropriation to own funds…....sssssssssesreserrrerereerensre renterne 0
B.. Total distribution of the amount available …(.(.W.].W.].|….W..sscenererereerrrerreenenssseneee 0
Jyske Bank (Gibraltar) Management Ltd.
Balance sheet as at the end of the financial year 1999
ASSETS
1... Cash in hand and claims at call on central banks .…….[.…
2. Treasury bills and other bills eligible for refinancing with
central banks
Claims on credit institutions and central banks cc
3
4
5.
6. Shares, etc. M.sseccervererererersersssvterensenereeen rese senn ennen serene ene
7... Holdings in associated enterprises, etc. …Å...u.u.u.ddssssesereerseeree
8... Holdings in affiliated enterprises.............sssssceserssesnenerenernrer
9. Intangible assets …(.W.W.Wu.X.u.sssnsseeveseressnsseseneesensen serene erne senere reven
10. Tangible assets M(1.(.W|.W.…M..ssesseeeeeseserensesensreserensresnnese nere renee nesnnenee
11... Own holdings su.u...sssseeeseresreesereseneereessnnenennensnnssn sense senere e enn see
12. Other assets M.ssserereseresenenesenenenenenesensnseseneneennnrsen nens tern neene
13... Prepayments and accrued income ……....…...sssesesesenseesesererererere
Total assets …((....ssceserssevevereesssee ses even nseenennnesnsneeeene sene ne nnse sense nen eneee
LIABILITIES
1... Debt to credit institutions and central banks …........sssccccerrre
Deposits MG. .u..ssenesereensssseesrereensskeesenens sen ne seerne erne ennen ns sener enes
Issued bonds…..…..svsesessseeseeeerrsennesse eres sen nere anses sn renser seeren eee
eee vesten tes seernes sene se
Provisions for liabilities and charges…..u..ssssssrreereseserenserener
Subordinated capital investments …..…...sssseneeeeeseevrseevveesneser
Own funds
8.1 Share capital/cooperative capital/guarantee capital .…..
8.2 Share premium account .....….u.u.sscccereseresserersenssenseeersene
8.3 Reserves …GW. .sssssseceeeeseenseeresseerenesenserereesenkerennessneenseeneesee
8.4 Revaluation reserves ….........susssesceeerereresersrssrrressereereseee
8.5 Brought forward from prior years M(.ssssceessseresressrseere
8.6 Carried forward from profit/loss for the year 2...
Total own funds M(..sssnseesseseseseeesenenensenssnnsn rese nr te rn nr serne rnner
Total liabilities ….…..n.vsersssrsseseessreneesessenneesensen ene sene renerne sner te sees e res
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OFF-BALANCE-SHEET ITEMS
1... Guarantees, etc. (..sssccererreresreseseresreserneneensen ennen erne enenene
2... Other commitments ............uscccsssrerererseesreeransnnn nens enen enge nnnnenne
Total off-balance-sheet items …...u..ssssseveesserererersernreennerneneneeernnese
Derivatives are specificed in the notes FB 5 - FB 9
Whole "000"DKK
1999
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då QGODCOODO OG ma OVQOQOOJSOJOO oOo
OD
FB 2
1998
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om BOBOQOOO mm OQCOOOSO oOo
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Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB3
Notes on the annual accounts 1999 1999
Own funds
Capital movements Opning Additional Capital Addition in
balance capital / write down — connection
bonus shares with merger
Share/cooperative/guarantee capital . 1 0 0 0
Share premium account Å….V.…"…...sscssesres 0 0 0 0
Undistributable savings bank reserve. 0 0 0 0
Reserves for net write-ups according
to the equity method .(….….…..sssssssessrrnenee 0 0 0 0
Other reserves .…….GW…G.G.Gsesceecererereresrerrsrereee 0 0 0 0
Revaluation reserves GG. ssccecsrsererrrsses 0 0 0 0
Brought forward from prior years .…... 0 0 0 0
Total own funds ….….….W.G..sencccerereerserssererer 1 0 0 0
Closeing
Additions Disposal Balance
Share/cooperative/guarantee capital . 0 0 1
Share premium account ..…….….ssccereree 0 0 0
Undistributable savings bank reserve... 0 0 0
Reserves for net write-ups according
to the equity method ÅtM1M.G.WG….Gssssssceseseenerreee 0 0 0
Other reserves ……M.….…. ssscerererersererereeerenreree 0 0 0
Revaluation reserves GG... ssscrseseseerrereer Q 0 0
Brought forward from prior years …... 0 0 0
Total own funds …….….….sssenererereeseersernernee 0 0 1
SOLVENCY RATIO CALCULATION
1. Core capital after deductions ……..u.u.u.sssssserersesereererererene renerne ernanne
2. Surbordinated loan capital and short-term supplementary capital 1...
3. Weighted assets not included in the trading portfolio….....…...ssssssssserrsrrrsernrsrgene
4. Weighted assets with market risks, etc... ennen
5. Total weighted assets ( items 3+4) MGM.u.….ssssscccreseerrrereererneersres renerne
6. Core capital after deductions as % of total weighted assets 2...
7. Solvency ratio pursuant to BSL S 21 (1).Guseccereserereeereererserererererr (1 decimal) …
1) Calculated according to the order of the Danish Financial Supervisory Authority of 19 June
1977 on the capital adequacy requirements of banks and certain financial institutions.
NOS
Jyske Bank (Gibraltar) Management Ltd.
Notes on the annual accounts 1999
Guarantees and other commitments
Off-balance-sheet items, item 1
Guarantees, etc.
1... Guarantees
1.1. Financial guarantees ……..….W.Gdu.sscceesrrsrressesssresee nesker rnnarern erne
1.2. Other guarantees….u.u.u.u.ssscssrseserernserserenreseesenenersaesn ere ssrn enn aneee
1.3. Acceptances and endorsements, etc…..u..sssecseseerseseseseneesee
Total guarantees, etc. M….W.W….W..u..ssssssesesesrsreserrer sene ser ner ener sanken sen ernnanee
Off-balance-sheet items, item 2
Other commitments
2.1. Irrevocable standby letters of credit 1…......u.u.usssseseserereersenner
2.2 Sales with an option to repurchase …...ssscsssrsssereeresrerntennsene
2.3 Other commitments …..u.sssncerereeeseresesenneevense ven nnnen versene nsennner
Total other commitments …....nccsssrseseserseeeveeseneeeee revner ven sense ennnnee
Whole "000"DKK
1999
Q ODO oOo
ODO oOo
FB 4
1998
O O O oO
ODO oOo
Jyske Bank (Gibraltar) Management Ltd. Whole "000"”DKK FB5
<- Notes on the annual accounts 1999 1999
Derivatives Up to 3 months 3 months to 1 year
By remaining time to redemption Nominal Net market Nominal Net market
value value value value
Foreign-exchange contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
SWapSs.sesseeerereereerrreerereesestrn sense renerne 0 0 0 0
Options, acquired MGM. ssssceccseseererrerenene 0 0 0 0
Options, issued M.G... ssssccrsurereeserererrsnee 0 0 0 0
Interest-rate contracts
— Forward contracts / futures, bought.… 0 0 0 0
” Forward contracts / futures, sold…... 0 0 0 0
Forward Rate Agreements, bought .… 0 0 0 0
Forward Rate Agreements, sold …Å..[.[|].. 0 0 0 0
SWaApPS.…ssessecerereereeerenerrnrersresenersesenersnsne Q 0 0 Q
Options, acquired 1…….ssscececerrrrererenere 0 0 0 0
Options, issued 2M…M….G….G.G.ssscseererrersereresernere 0 0 0 0
Equity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
' Options, acquired …….W…W…|.….sssssseceserereesnere 0 0 0 0
— options, issued .......sssccccccererrrrrrree 0 0 0 0
Commodity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired …….….u..ssccsererreeneeee 0 0 0 0
0 0 0 0
Options, issued GM.G….sssssrseerereererreerereneee
Other derived contracts…...u..dsenerrere 0 0 0
Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB6
X<- Notes on the annual accounts 1999 1999
Derivatives 1 to 5 years Exceeding 5 years
By remaining time to redemption Nominal Net market Nominal Net market
value value value value
Foreign-exchange contracts
Forward contracts / futures, bought... 0 0 0 Q
Forward contracts / futures, sold... 0 0 0 0
SWapS.Gseneeneseeseesnnesers reen sene regne sen rense sen 0 0 0 0
Options, acquired …..W.GW.u.u.ssverreserseeeresee 0 0 Q 0
Options, issued ….….sssecervessresseresreere 0 0 Q 0
… Interest-rate contracts
Forward contracts / futures, bought... 0 0 0 0
Forward contracts / futures, sold….... 0 0 0 0
Forward Rate Agreements, bought... 0 0 0 0
Forward Rate Agreements, sold …….]. 0 0 0 0
SWapS.ssseseeeeesrsereserr reen erne ren rer en sense 0 0 0 0
Options, acquired …..Wu.u.u.sscsererererreneer 0 Q 0 0
Options, issued …(…..u..ssseneeeereeeeeesserner Q 0 0 0
Equity contracts
Forward contracts / futures, bought. 0 0 Q 0
Forward contracts / futures, sold... Q 0 0 0
. Options, acquired .….[.[.[.[.[.. erevsesensrsenee 0 0 0 0
Options, issued .….u.sseseseseeserersersseree 0 0 0 0
Commodity contracts
Forward contracts / futures, bought... 0 Q 0 0
Forward contracts / futures, sold... Q 0 Q 0
Options, acquired …...u.u..ddssverrereeee Q 0 0 0
Options, issued 2... .ssssesserrerreerereerenne 0 0 0 0
Other derived contracts.......... se. 0 Q 0 0
Ku
Jyske Bank (Gibraltar) Management Ltd.
Notes on the annual accounts 1999
Whole "000"DKK FB 7
1999
Derivatives
By remaining time to redemption
Nominal
value
Total
Net market
value
Foreign-exchange cantracts
Forward contracts / futures, bought….W.u.u..sseeseserrersstenernereree
Forward contracts / futures, sold…..u.u.u.ssnsseseseverevevernesee stenenes
Interest-rate contracts
Forward contracts / futures, bought…...u.u.usssseceersrrensereeeenrerere
Forward contracts / futures, sold……....M.W..usssensererersversrensneenensenene
Forward Rate Agreements, bought M1.W|.M….u.sserseerserseneresrseseenenee
Forward Rate Agreements, sold …….….…..semssssrrsserreereersesserersennerernee
Equity contracts
Forward contracts / futures, bought…..u..sssssseeevererserenrensneres
Forward contracts / futures, sold….….....u.X..dsevencevereseveesesesernereeee
Options, acquired M1.…...ssssererseresrsereeseesnerenen ene reeks sense renee erne rden
Options, issued GW smssssssrcereres sneen ersenseverenerer renen ere ener enn srnneen
Commodity contracts
Forward contracts / futures, bought.….….W.G.ssessecerreseenersesessersener
Forward contracts / futures, SOld…....X...u.u.ssenseneerereseren renee rene ensnenen
Options, acquired M1….W.W.sssseerereseeesererereerennnesennnn ennen ere saenn ene neee
Options, issued M…..….….….u.sssseserrsereeesererrererneee serne ren ener rsnr eres nnree
Other derived contracts……...….sssscereevereresrsereesererssrerde rense nnnerenense
Total net market value….......sssseererereserereeeneeree rene rrnnee nens enneee
…
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> Notes on the annual accounts 1999
2
Å ,
Jyske Bank (Gibraltar) Management Ltd.
Whole "000"DKK
FB 8
1999
Derivatives
Market value
Pos. Neg.
Average
market value
Pos.
Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold.
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreements, bought .…
Forward Rate Agreements, sold …—(.|.[1].
Equity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired MGM. sssescseseeerersrsereree
Options, issued 2MGMMM…ssssscsessereseeserererereer
Commodity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired …(.…..sseecerceeererrrerreer
Options, issued MM.GWG….. ssssssserreesesesreserreree
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Jyske Bank (Gibraltar) Management Ltd.
Notes on the annual accounts 1999
Whole "000"DKK
Derivatives
Marked value of
non-guaranteed
contracts
Pos. Neg.
Foreign-exchange contracis
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired MM. screen
Options, issued MMG.….u… sssssceserreeresersssrnenner
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreements, bought .…
Forward Rate Agreements, sold …Å.
Options, acquired M(.….…..ssscscsererssersneneee
Options, issued .…GMG.GW ssssscseseressereeerrerseee
Equity contracts
Forward contracts / futures, bought...
Forward contracts / futures, sold...
Options, acquired ((].]u…W.…..sssseneserrsersnenes
Options, issued MGMGWG.ssscerseeerserrseresenersere
Commodity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired …….u.u.u..cdssssserrsernes
Options, issued 2….….…. .sssssceeeereerresreseneneer
Other derived contracts…..sscesrere.
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FB 9
1999
Outstanding sport transactions
Nominal
Market value
value Pos. | Neg.
Net market
value
Foreign-exchange transact. purchase
Foreign-exchange transactions, sale.
Interest-rate transactions, purchase …
Interest-rate transactions, sale …—(.[.[.[.
Equity transactions, purchase .…..
Equity transactions, sale...
Other transactions, purchase …..….
Other transactions, sale…...u..ddsscerree
Total
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Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB 10
Notes on the annual accounts 1999 1999 1998
Credit risks Advances + Advances +
guarantees guarantees
Advances and guarantees according to as % at the as % atthe
sesctors and branches end of year end of year
1.… Public authorities…..u.Gu.u..sseesseesesseeereserenes renee senere rene nesnene - -
2... Industries…........sssssseesersesererrerrneerserrrre nende reen tr seer ke nt ener - -
2.1. Agriculture, hunting and forestry…......sssnnesrererrsererrerrerensee - -
2.2. Fisheries……...u..ssssceseserrerersesneseneneneesssesnseenseneesne ere nee ven enene ennen - -
2.3. Manufacturing companies, extractive industries
electricity, gas, water and heating plants….u.u.sserrerersrses - -
2.4. Building and construction cOoMpanies….u..sssssesererrsevesenenere - -
2.5 Trade, catering and hotel businesses….....sssncersrerereresereer - -
2.6 Transport, mail and telphone…….Wu.u.u.sssenvsevssressesesssss sne nens es eeee - -
2.7 Credit and financial institutions and
insurance agencies…..G…...ssssesererersseree essens rsenee sene rese nennnene egene
2.8 Administation and sale of real estate,
business sService.….…...sssenesserererresasesnererneere senere eres renerne reen -
2.9 Others.…….….dssersenesersesereersssenerensenneennsnrssereerseeneenesnnnssennenenenssdnnene - -
3... Private…....sssecevsesseesrerensersenevenennessvesensenvgsnesendensereeneenenn ens enden -
1-3. Total…..u..ssvsenssveererereevennesr seen ten vennerne renere reen enedes senere. - -
Credit risk on derivatives
Positive market value Counter-party including risk weighting
(after counter-party risk) 0% 20 % 100 %
Positive market value after n Q 0 0
Please see the order Danish Financial Supervisory Authority S27 (3) and S12, for a list of
counter parties within the 3 risk categories.
Subordinated assets Associated Affiliated Other
Undertakings Undertakings Undertakings
Subordinated assets…Å….[..[.. 0 0 0
Accumulated provisions 1999 1998
Provisions at the end of the year on advances and guarantees ….. 0 0
Provisions at the end of the year on credit institutions and other
items involving a credit risk (….u.….….dssssenesseererveserens ener en srnnnnn ene seen ne sanserne 0 0
Total accumulated provsions ÅM..ssssceseseerserrreeseenssre seernes er nen rener 0 0
Accumulated provisions on advances and guarantees as a
percentage of advances and guarantees at the end of the year ….….. 0,0 0,0
Total non-performing assets at year end 1(.W.dssscssererreneneerrsnee 0 0
Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB 11
Notes on the annual accounts 1999 1999 1998
Market risks
CURRENCY EXPOSURE
Total assets in forreign CcurrencieSs….........umeneneuseseessessenssereveveneveeseeeeee serene 1
Total liabilities in forreign currencies….....W...u.sssssessererserrsereeesseeeneeeeneenensennnee 1
Currency exposure 1.…ssercesereenernseeeeessessensennen ene be nt seere genrene servere ves r er -
Currency exposure 1 as a percentage of core capital after deduction…... -
Currency exposure ZG..ssenssssesrseressersesereeneneeseeesger seven enes ster ser sn s erne krans -
Currency exposure 2 as a percentage of core capital after deduction….…. -
INTEREST-RATE EXPOSURE
Total interest-rate exposure on debt instruments …...............suseessseerenssernere -
| Interest rate exposure by currency involving largest interest-
— rate exposure:
1. DKK << 0c0i >>. serwerersesenennnreesseesssseeeeseeernennesenenenees -
2. XXX 00000o—o—. sveeeereresrrereenersnnsenenennnnessesnvennesneneee -
3, XXX —00i00—so— seveereevressesevesssenseereeeneepneneeneeenseneeses -
Å. XXX 0000o———. sueeseeverenvvenneeseessseeneseeeenssnenenennesesene -
5. XXX 0000000 suvverereresssereenesenennneneenenenessneeennsssneee -
6. XXX —0000o0o—- seveveveeeasnesseseensrenessssneeeseeseserersnesgeee -
7. Other currencies 0 ssseeverrereneensereevseseeresesennesekereenerennee -
Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB 12
x<- Notes on the annual accounts 1999 1999 1998
Assets and liabilities by residual maturity
Assets at credit institutions and central banks
1. At call …u.MWG….ssssssesesesssresensnesssnssersesensen rens erske renser ere venerne reen ene
2. Up to 3 months ….W.….u...ssseseserserrereerenee renees re sne rs eneret nere rn erne
3. Over 3 months and up to one year M(.…..sseueseresereesnvesesensse
2
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Advances
1. At call …….…G…..ssmeseseersresserrseeenesnenensenekne sneen ennen snes ere ren nenenee
2. Up to 3 months M1(.W.…..ssseserssrrereesernsereesee renees renees ennnen ener
3. Over 3 months and up to one year 2MM.M……u sssceesssrerserreessrersere
4. Over one year and up to 5 years ÅMM.….sssseccrreeeeerrsererrererersere
(eee
Debt to credit institutions and central banks
1. At call sMGM..Msssenesesrrrereseraseensennersnnenenesen seen nneesr veer een eeneen seerne
2. Up to 3 months ….sscceseerereeeenrerese serene te nese serene enes renee snne
3. Over 3 months and up to one year M1(…(.W….….ssseserseersssrrsseeneseer
4. Over one year and up to 5 years GG Gu. ssscsccesreeesesreseranseeennee
5. Over 5 years ……msssemeneerereeererereeserenereneernenereknre re sreeenene renerne
OOOJOCR 0 O
, Deposits
No 1. At call 2...ssessssesereseresrtesereerersererrrte nere reres enn rrrrrneee
2. Up to 3 months …..u.ssscereeserrerneeneessneerneeeensnnen ere senn egner
3. Over 3 months and up to one year M(.….…..ssssccesenesersreeeeseere
4. Over one year and up to 5 years MMG.….ssseessesersseerererseeternernnee
OQOGO0O ODO
Issued bons, etc.
1. At call …….….W.W….ssscessrsesesreeeesrne renerne nerne rener renerne nt nnnn ende
2. Up to 3 months ÅM….…..ssensseereererserre renerne er rr nere ne seenanse rense rnnee
3. Over 3 months and up to one year M….….|.ssssesrneenererernnsree
4. Over one year and up to 5 years MG. ssssceceseeresersereeeersnsennee
5, Over 5 years ……..….sssscsseneeeerererererseseernrreennenrske ser nens eneret ennersene
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Jyske Bank (Gibraltar) Management Ltd.
Xx- Notes on the annual accounts 1999
Re:
Profit and loss account
Interest receivable/premium/discount on forward
transactions of:
Claims on credit institutions and central banks……...
Loans and advances….….G...sseveeveeeerrree renses serne rnse enn nssnenn ene
of which
Foreign-exchange contracts …..W..u..sssssseseeerrserereeeeereennnee
Interest rate contracts MG…..smu.sssssceceresesereseesreneernnen vennerne
Equity contracts 1M….W….G…..scceresseesesereesesernteserneessneerenesenrenknee
Commodity contracts….....scssseserserereresssresserenne ennen neg
Other contracts MG. ..sssenseseseeresseseresdeeererernen sneen rnennnse
Others (+/-) su.sssssesersrerreserresersenerersesseneereese renerne
Total interest receivable......…..u..mssssesereereseserse erne rnnnsnner
Of which genuine sale and repurchase transactions under
Claims on credit institutions and central banks…..
Loans and advances….u...seeesersereveeeeeensnserseennensssseennnnngne
Interest payable to:
Credit institutions and central banks…...u.C.u.scsesesssssseserrreres
Deposits.M….….W.G.ssssereseersesssssrssenese stresser renerne
Issued bonds….u..ssscereseerseereeererrs ener err enn nen renterne ennen enerne
Subordinated capital investments ……..u...sscssurreerrererernee
Guarantee capital Å….….G….Gu.d….dsssceseseerrresseerrsre renser renerne
Others……G....mssecceeeersesssseesserernessenenreeseensenere renen nere nn reen nnnne
Total interest payable…..G..u.u.sssceerseeesesesesserrnss ennen renen annee
X- Of which genuine sale and repurchase transactions under
Credit institutions and central banks…..u...ssccsrsreeereerenneree
DepositsG.udvssssseserseeerrseesererrsnere ere ree renerne renerne
Dividend on:
Shares.sssseseceeresereeserseseseenersensreenn sneen eres en Lenet
Holdings in associated undertakings, etc…..u.u..sssccsrsrrrer
Holdings in affiliated undertakings Mu. ssencsseeererenresrrennnee
Total dividend on shares and other holdings ….........….
Whole "000"DKK
1999
OCOCGOO0O0OOO oOo O ODO oOo
O OoO
O Q QO0QOOSO ODO ODO
ODD oOo
FB 13
1998
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Jyske Bank (Gibraltar) Management Ltd.
nu Notes on the annual accounts 1999
Re:
Profit and loss account (continued)
Price adjustments 1) of:
Shares…..M.….Gseeevererverrseseneseekeresssensenenenengs nen ne sneen rn see sense sneen enever
Advances with fixed interest…......W.u…..ssscevsereesersnerernneneerereenee
Exchange-rate adjustment of foreign currency…..u..sscererreee
Total other financial instruments (Derivatives)...
of which
Foreign-exchange contracts …(....sscerseessererrerseeressene vsere
Interest rate Contracts 2MM.W.…Mssssmsessssesesenenen ener sense ren see nsesennenen
Equity contracts …….…..sseecrseeeneerererseeesersensnsnenee rener es rn nens
Comodisty contracts….W..u.u.u.sssseveeeeveesesesernneneenerersss esse ee see
Other contracts M(.u.u...dsessrersereererseneeseereseresne enes eesenren sene nene
Total price adjustments ….W.Wu.Wu..u.sssessuversreerrererereseserreese rn enener
Of which relating to pension pools ….W.W|.M..ssessersessersersersersererere
1999
Whole "000"DKK
ODD &O O
OQOO0DO 0 oOo
0
FB 14
1998
1) The sub-items include price adjustment of securities, etc., forming part of the pension
pools. Adjustments are made for these price adjustments in the item pension pools
below.
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Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB 15
x… Notes on the annual accounts 1999
Re: Profit and loss account (continued) 1999 1998
8. Staff costs and administrative expenses
Salaries and remuneration to Supervisory Board,
Board of Managers and Board of Representatives
Supervisory Board ,MGMwMdwsssnveceeerseneeersersrrersneseseenrenen senge rnenenesrnene 0 0
Board of Managers …....ssssesesesesessseerererseesesenesreerene eee nnennese 0 Q
Board of Representatives …........senesesererreresssererrsnereernesenessee 0 Q
Total sGG.udG.sssssseesesesevennensneetenanses senere ran se eee te reen reen rr n versene 0 0
Staff costs
Wages and salaries ….….seneceseserrerersser re reseesesernseeek seeren neger 0 0
Pensions s.ssseveveveseevsseeseneetesesrrnsnse sener senere sene esser rarere ere eee 0 0
Social security COStS ….W…....ssenssseesersesre rese nerne keen ks erne renere ne 0 0
Total .MG..Msssscevereeresseveseesenesneneseseenerenn eneret enn set r sne ses n enke rs gene 0 0
| Other administrative expenses M....ssssssesererssesererserensesseerseneer 0 0
— Total staff costs and administrative expenses….........sssssccreree 0 0
12. Price adjustments of participating interests in associated and
affiliated undertakings
Price adjustment of holdings in associated undertakings, etc. 0 0
Price adjustment of holdings in affiliated undertakings .…….[.[.]. 0 0
Total price adj. of participating interests in associated and
affiliated undertakings…......sssensesesesensssssdeeeresseeser ennen snes neenee 0 0
15. Tax
Estimated tax on the year's income ……....ssssneeveeeeserseneseeerreeneee 0 0
Deferred tax (timing differences)........u..ssssenseereeresesreernerenneee 0 0
Adj. of tax calculated in prior years ........ssersreseseerserresese 0 0
Total tax 2M1.u…...sssesseseveresrersses rss sns ennen sense renee tern renerne enkes ener neeneee 0 0
Supervisory Board, Board of Managers and Board of Representatives
Amount of loans, charges, securities and guarantees .
NØ issued to members of the institution's. Advances, etc. Advances, etc.
Supervisory Board ÅM…. ...usssessseeeeerreeresrenernsnesererenesserrnseneen renee 0 0
Board of Managers …….….…..sssscevenesseseeerrsnesesenkseneeeseeeen renere tetereree 0 0
Board of Representatives .…....u.sssssseeeeeeseseresesnreeeere seernes 0 0
Securities Securities
Supervisory Board 1... ssscseeeeeesserereereenerereneenrkre rss errnenee 0 Q
Board of Managers 1(..sseseeeeeerserseeresernssererrnsrrnerren er rsgrserne 0 Q
Re: Auditor's Fees
Total fee to auditors elected at the Annual General Meeting
in charge of the statutory audit…….......sssssssererssrrneseneeessnenenereee 0 0
Of which for services other than auditing….........…...ssscenecererreer 0 Q
Re: number of employees
Average number of employees during the financial year converted
into full-time employees (1 decimal) 0,0 0,0
Jyske Bank (Gibraltar) Management Ltd.
X- Notes on the annual accounts 1999
Re: Assets
Claims on credit institutions & central banks
Claims at notice on central banks…..Xu.u.u.udssnseveensereererrenerenen
Claims on credit institutions….X.u.u..ssseeveresreeserrerseernn en enrenen
Total claims on credit institutions & central banks…Å….[.[.].
Bonds
Total bonds ………..ssssereeeestersreersenvevenervnnse ennen e ener even en nn eee
Hereof own bonds…(...ssssceeseeeverrerreeresserene ren snenne rn snnnenene
Xx Shares, etc.
Quoted on stock exchanges ……….….G….sssssereeerrene res rserer renee sene nnee
Other shares…...….Gu..ussssssvseseressererenesenssrnenen ene rneenenn sneen renerne
Other holdings …….X.u.u.u.dsescesereseererseeererseeerseneenenen nerne nr rkrsee
Total shares, etc. .…..u.u.ussscceceeeeseessernserneesern renerne nen enenerenes
a) Financial current assets valued at market value
(quoted) MG. vsssssssceseverserenereerenenerserser erkender serene aserne ran nnee
b) Difference between the purchase. price of financial
current assets under a) and the higher market value
on balance sheet date ….W.u..uvssencereerereseessrrs rss rnerserereene
c) Financial current assets not valued at market value
(unquoted) GM... .sssssseseeeeeersessrerenssnne renerne rense snert s rr enn sne
d) Difference between the purchase price of financial
Nis current assets under c) and the higher market value
on balance sheet date (..W.Wu.u.u.dsscssereerrserererenersrrrereeneree
Whole "000"DKK
1999
ODO ODO &Oo
(eee Re
FB 16
1998
OJOOOO
ODO oOo
Jyske Bank (Gibraltar) Management Ltd Whole "000"DKK FB 17
>—. Notes on the annual accounts 1999
Re: Assets 1999
Financial fixed assets Affiliated Associated Other
undertakings undertakings and undertakings
other significant
holdings
A. Acquisition value, beginning .….. 0 0 0
- Exchange rate adjustment of
the year MGG.G..ssscecereerereresrsnsensreee 0 0 0
- Additions of the year ….[.1. 0 Q 0
- Disposals of the year .…..[... Q 0 0
B. Acquisition value of assets
ED held, end MMGGW.GWsssenecerererseerseereresenenee 0 0 0
C. Revaluation and writedown
beginnng.…G… .sssesesesssessrrrerensren re snnner 0 0 0
a) Exchange rate adjustment of
the year MG .u.sssserceesererererer (+/-) 0 0 0
b) Profit and I0SS 2... (+/-) 0 0 0
c) Dividend M.G. sssccsersrreerererereseee 0 0 0
d) Difference upon acquisition…... 0 0 0
e) Other capital movements…. 0 0 0
f) Revaluation and
writedown of the year …—.[.[... 0 0 0
g) Revaluation and
writedown reversed……..c. 0 0 0
… D. Revaluation and writedown of
assets held, end .t….u.…G ssenccceserrerereses 0 0 0
E. Holdings in parent companies... 0 0 0
F.. Portfolio booked, end
(B+ D+ E) ssmsecesessserressrrersrentrrnree 0 0 0
of which credit institutions ….. 0 0 0
G. Portfolio booked, beginning .….... 0 0 0
of which credit institutions …... 0 0 0
Klass
Rio
Jyske Bank (Gibraltar) Management Ltd Wnoie "000"DKK FB 18
Notes on the annual accounts 1999
Re: Assets 1999
Goodwill Other intangible Total
Intangible assets
A. Acquisition value, beginning …—..
- Exchange rate adjustment of
the year M(1.W.….…W..ssescerererereeseresesenee
- Additions of the year .…….[..
- Disposals of the year …—Å.[..
B. Acquisition value of assets
held, end Å…G…WG..Gwsssscceserererseeerersenensenen
C. Depreciation and writed. begining
- Exchange rate adjustment of
- Depreciation of the year …—…..
- Writedown of the year …Å—..[.[..
- Depreciation and writedown
reversed
D. Depreciation and writed. held, end
the year …MG..umMmsssscseseserereeseereeereser
E. Portofolio booked, end
Portfolio booked, beginning .…..
Expenses of the year
O O
ODO oo oOo
OQOO OD oOo
assets
&O O
OQDO OD oOo
BSOGQOD OD oOo
OQO O
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RL
Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB 19
Notes on the annual accounts 1999
Re: Assets 1999
Tangible assets Land and Machinery, Total
buildings equipment, etc.
A. Acquisition value, beginning …—... 0 0 0
- Exchange rate adjustment of
the year MG sssseneneeesesereressssersreee 0 0 0
- Additions of the year …….[.[.. 0 0 0
- Disposals of the year …—(.|.[.[.[.[.. 0 0 0
B. Acquisition value of assets
held, end MMG…..….smencsereeeeeerrevesenrenenenee 0 0 0
C. Property revaluation begining 0 0
- Exchange rate adjustment of
the year KM. .….sssseserserseresssesennnene 0 0
- Revaluation of the year …Å.[.[.[.[.]. 0 0
- Revaluat. of the year reversed 0 0
D. Property revaluation held, end ..…. Q 0
E. Depreciation and writedown
beginnng.….G.Gu.u..sssesereresererererere renerne 0 0 0
- Exchange rate adjustment of
the year (MG Gu. ssenesereeeerererrerersenere 0 0 0
- Depreciations of the year... 0 0 0
- Writedown of the year …—(.[.[.[|.[|.[1.[1]. 0 0 0
- Depreciations and
Writedown reversed 0 0 0
F. Depreciation and writedown of
assets held, end ……....senererrererrer 0 0 0
G. Portfolio booked, end 1... 0 0 Q
Portofolio booked, beginning…..[.[.[.[.[.[.[.. 0 0 0
Recent tax assessment of real property 0
Immediate amortizations on machinery
and equipment etc. have been made
0
during the financial year totalling …….Wu.u.u.sssecerererreesseenere 0
ARR,
Rov
€:3)
Ud
Jyske Bank (Gibraltar) Management Lt Wnole "000"DKK
Notes on the annual accounts 1999
Re: Liabilities
Debt to credit institutions & central banks
Debt to central banks……....ssenesrsererreereses rs ne rnene
Debt to credit institutions…..u..sssscevereeerrersereeree
Total Debt to credit institutions & central banks.…
Deposits
Deposits on demand .Å(….W.W….….s.sssesseersserernesnnnessnnesnnenee
Deposits at notice 1….Wu.u.u.u.dseneereerserserserere sense senere
Time deposits M….sssssserssersesrse rese renerne serene nere
Special categories of deposits …MGW…Gsusmsssseceseseesreeresee
Total deposits …...Gu..u.ssssesrrrssesrsen see neerrenee seere eee nnnse
Provisions for commitments
Provisions for pension commitments sc
Tax provision for the year…..W...ssseseereesrenersneser
Provisions for other commitments…..ssscererseer
Total provisions for commitments…….....sssscee
1999
oOo
ODO O OoO
O oOo &Oo
FB 20
1998
O
ODO DO oOo
O OG &OoO
CTX
Jyske Bank (Gibraltar) Management Ltd.
Notes on the annual accounts 1999
Genuine sale and repurchase transactions and reverse sale and
repurchase transactions (Repos/Reverse repos)
Of the below assets genuine sale and repurchase transactions
account for:
Claims on credit institutions & central banks .......ssscserus
Loan and advances GG. MG. sssccsscerseseerse renees ennentenennnene nn nnnesengee
Of the below liabilities genuine sale and repurchase transactions
account for:
Debt to credit institutions & central banks……...u.u.uvssseneseuersese
Deposits M.G sssssesssreseregesessreseveresenenesesrsee vene seve re ere nsen ens ee essensen
Assets included in genuine sale and repurchase transactions:
Assets
5... BondSs…..usscessereeesesessesesesneneen nesten rn testes rene renee e ennen anne
6. Shares, etc. ….W…..sssceeessssessseessvsnen ease nnenes nen renee renses ene re
7... Holdings in associated undertakings, etc. 1...
8. Holdings in affiliated undertakings…....W.u...senesereveereeesere
10. Tangible assets M..…...sssseneesensrsneervss urene nerne renser reen renser
…
Whole "000"DKK
1999
ODO ODO oOo
FB 21
1998
OODO0O0 oOo
Jyske Bank (Gibraltar) Management Ltd. Whole "000"DKK FB 22
Rou Notes on the annual accounts 1999 1999 1998
Balances with affiliated and associated undertakings, etc in the group
Affiliated Affiliated
Asset item. enterprises enterprises
3. Claims on credit institutions and central banks…Å.. 1 1
4. Loans and advances M1..sssecceseeeeserersennenereenesenene 0 0
5... Bonds…..u..ddsscereeereseresersereseeersrereerseneese renere ner ssnnnee 0 0
Total asset items ….u.u.dencccserssesseeerennsnensessnenneene 1 1
—— Liability item.
1. Debt to credit institutions ….........u..u..ssseenesereresesere 0 0
2. Deposits .M…..….sssencessesereenesereesesesesnensenennenennenengeseee 0 0
3. Issued bonds ….......ssseereserreresererenerene renere nn erne 0 0
Total liability items …..W.u..usscceseseserenersersenereeesrnesesenee 0 0
Associated Associated .
enterprises and enterprises and
other significant — other significant
Asset item. holdings holdings
E . 3... Claims on credit institutions and central banks….... 0 0
4... Loans and advances …...sceseeeeesessesreneeeenresanenene 0 0
5... Bonds…....svevesreersererresesserreeresensese eres nerne renen ns enn enee 0 0
Total asset items …........sssnesesersseerrersersenerenrenskneneee 0 Q
Liability item.
1. Debt to credit institutions …......u...sesenerresrrrersee 0 0
2. Deposits M..d.ssesessesreeeeresesreneen ene venner nere rn nenrenee 0 0
3. Issued bonds…..….sssccssreserrereneerseensesers renser n neg 0 0
Total liability items .........sssenererrrereeseresesveresnneseree 0 0
This financial statement has been prepared by the parent company, Jyske
Bank A/S, in compliance with the Danish accounting principles for credit
institutions, etc.
Silkeborg, 21 February 2000
The board of Management:
AA "
SL Leif F. Larsen Visti FROSNE
fla hr
/Jens Borum
ork ga
Tem,
L
—
"ne
JYSKE BANK (GIBRALTAR) SECRETARIES LTD.
GIBRALTAR
Årsregnskab for 1999
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 1
ABA
Profit and loss account for the financial year 1999 1999 1998
— 1. Interest receivable …..W.W….….u.sssssrserrsernerrereereenerenererensererrersar ennen 0
2... Interest payable…....u.u..scccsssersserrssrerrrrererrerererens nens rese 0
AA. Net income from interest 1…..scsseseeserresserrenesetenerseneneree erne ssnn nen re sener 0
3. Dividend on shares, etc., and other holdings …...u..u.sssccccerrerrsrnseneres 0
4... Charges and commissions receivable, M….….….sssssccssesreerresesenerererrernee 0
5. Charges and commissions payable, Mu.u.…..ssscssesrsrresrererrerenrrrenerrnnnnee 0
B. Net income from interest and charges 1. sssccrrseereeeesernserernnsensernee 0
6... Market revaluation…...sssscsssrsserresseersrnerresseresereerrner senere r nerne 0
7... Other ordinary income GM. .sssssscseerereerreseererserrsrsereetense narrer erne 0
<< 8. Total staff costs, etc. and administrative expenses .….….G...ssssssesseerarnee 0
9. Depreciation of & write-downs on intangible and tangible assets ……. Q
10. Other ordinary charges M….….G…...ssssssesserssreererrenrreserenenssese nr ersten renser Q
11... Depn. and provisions for loss on bad debts …….…...sssesserrrerereseenenernee Q
12. Price adjustments of participating interests in
associated and affiliated enterprises 1M..…..ssssscsseerereseeeerressee rense rnnnnenee 0
C.… Profit/loss on ordinary activities …..u.u..sssssseresserreseereseeerressennnenn erne renee 0
13. Extraordinary income MGM ssscssssesrereseeseseeeeen renerne nerne rnen ennen 0
14... Extraordinary charges ;…….…G….. .sssssvernrseseseresseneereneres ser reneresennne renerne 0
15. TaX sesscccseeesesseerersrereseseserssenrnenererenereener eres rener sense ere benene seeren 0
D. Profit/loss for the financial year ….u.u..dssssssersensersesserenerrerersenerdennnnee 0
Distribution of profits:
1... Profit/loss for the financial year (..u.u.sssssssnrsesnerersererrernrrereerensn enn nnne 0
2... Brought forward from prior years …M….….….ssssssssrrerrrerrresnsereenererenersennernnnnnnee 0
A.. Total amount available for distribution …...G..sssscssrsererereeerersereerennnennnee Q
3. Dividends .M….….….sscceesereeeseereressere rer rrrner er essrer renser rnkn serene nerne 0
4. Various other purposes GG Msudu.ssscsereseserersrereseser sene stanrer ensretter 0
5... Appropriation to own funds…....u.ssscssssresererseerrnrerrnener eneret rreernenennennnene 0
B. Total distribution of the amount available …..Wu.u.u.u.sscccsesererrrerreeneeenener 0
vene
.
NØ ON
DD Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 2
Nou Balance sheet as at the end of the financial year 1999 1999 1998
ASSETS
1... Cash in hand and claims at call on central banks 2... 0 0
2. Treasury bills and other bills eligible for refinancing with
central banks 0 0
32... Claims on credit institutions and central banks …....u...ssscrccees 1 1
4. Loans and advances GG. sssccrrrereeererrereeeerrrrrneers renses ennnne 0 0
5... BondS.…GGuudssscescsrreererereeerssessres re reen ennen erne renerne snarere sen rnsgnne 0 Q
6. Shares, etc. MGM1...V….Gsccreeeereresersererresrs genrens rese nerne 0 Q
7... Holdings in associated enterprises, etc. M(….….W…..sssscnrsrnrserenserner 0 0
8... Holdings in affiliated enterprises….......sscssssssssrsereneresrneenne 0 0
9. Intangible assets (..…..usssssserrreserreeereeresnterees enten sets enerrnnnee 0 0
10. Tangible assets ….u.u..ssscseresererererresrnere renerne rerenene 0 0
7 11... Own holdings ssusscsesssserseerrerreesereererrerrserterseersresnnrnnr ster nnnnene 0 0
== 42, Other assets sssssscesereeeersersererersessrressereerser narrer nrrkrsrtr re rrenee 0 0
13... Prepayments and accrued income ……..sssseeesereserserererennnee 0 0
Total assets M..dsesescevessseserrserrensesene renser esse sner nesena dene ne sense rnnnee 1 1.
LIABILITIES
1... Debt to credit institutions and central banks scenerier O Q
2. Deposits sMssssscsesreverrrersserser rens rersr sne rese ns er rasen nerne 0 0
3. Issued bonds,….G… .sssescererreseesererers ener renten ens n renees benene renser nerne 0 0
4... Other liabilities 1......u..sssssserrersseerneersnenerseneenesn renees n serene eres 0 (om
5... Accruals and. deferred income ….….G.ssssecereenereserrereeneser renerne 0 0
6. Provisions for liabilities and charges…..u.vdsercrrrsesererereeeernennee 0 0
7... Subordinated capital investments …...G..sserrsereeeeerssreserseenesnnnee 0 0
8... Own funds '
TT 8.1 Share capital/cooperative capital/guarantee capital …... 1 1
TR 8.2 Share premium account ……..ssssscseererern renerne erne 0 Q
8.3 Reserves sGssscecerereeererreeeerssereeeresensererrnreneensen nn een 0 0
8.4 Revaluation reserves MG. ssssssscerereeesereerreenreneeerenrenknnnnnnee Q 0
8.5 Brought forward from prior years ……....sssssesseerreeererserneer 0 0
8.6 Carried forward from profit/loss for the year 2... o 0
Total own funds …M.…..ssesseseeseeeeerereersesesse sneen rnsererenesen ennen nerne 1 1
Total liabilities M1..(.….ssssserseeeveeessersererere ne svenene seeren ears resrenansnnnsannnee 1 1
OFF-BALANCE-SHEET ITEMS
1... Guarantees, etc. MGM .uvu.sssseseseerererereeereee renerne seen rnennee 0 0
2... Other commitments 1... ssccereserseesrenesresesssenerss ennen ennen nens Q 0
Total off-balance-sheet items …(.W..ssscscereesesreerresrerse serene renerne renrnee 0 Q
— Derivatives are specificed in the notes FB 5 - FB9Y9
Rus
(623)
. FR er
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB3
Notes on the annual accounts 1999 1999
Own funds
Capital movements Opning Additional Capital Addition in
balance capital / write down — connection
bonus shares with merger
Share/cooperative/guarantee capital . 1 0 0 0
Share premium account MG. seeren 0 0 0 0
Undistributable savings bank reserve. 0 0 0 0
Reserves for net write-ups according
to the equity method …....ssssesssersrerere 0 0 0 0
Other reserves MG... sssccersessrereresersenreenee 0 0 0 0
Revaluation reserves G..sssssrererrersesneee 0 0 0 0
Brought forward from prior years …Å….. 0 0 0 0
Total own funds MM. ssssserereeerereserrrneree 1 0 0 0
Closeing
Additions Disposal Balance
Share/cooperative/guarantee capital . 0 0 1
Share premium account (1. ssscsrcsrrer 0 0 0
Undistributable savings bank reserve. 0 0 0
Reserves for net write-ups according
to the equity method …….…...ssssesrerernre 0 0 0
Other reserves M.G. .dsesersrerrreseeenernsennenee 0 0 0
Revaluation reserves s.sscccrrerererererereee 0 0 0
Brought forward from prior years .…... 0 0 0
Total own funds M.V. .ssceerereerererserernsnes 0 0 1
SOLVENCY RATIO CALCULATION. 1)
1. Core capital after deductions 1…(..M.X.u.u..ssseresesrsreserrseerserntern ersten renerne -
2. Surbordinated loan capital and short-term supplementary capital 2... -
3. Weighted assets not included in the trading portfolio.…......…....ssssssreserrrrsrereneee -
4. Weighted assets with market risks, etc….W.u..ssssesrserereererrererenerenern nr -
5, Total weighted assets ( items 3+4) GW. ssdsscceseerereererrte rr renere terenerrennnn -
6. Core capital after deductions as % of total weighted assets …..W...dscscsrens -
7. Solvency ratio pursuant to BSL S 21 (1)GMm.ssmcccceeeerrererrrrreeneereenene (1 decimal) …
1) Calculated according to the order of the Danish Financial Supervisory Authority of 19 June
1977 on the capital adequacy requirements of banks and certain financial institutions.
(Ad
Jyske Bank (Gibraltar) Secretaries Ltd.
Notes on the annual accounts 1999
Guarantees and other commitments
Off-balance-sheet items, item 1
Guarantees, etc.
1... Guarantees
1.1. Financial guarantees …...sscseccrsrrerrrrreterernrrretessrrkrrerer urene
1.2. Other guarantees…..u..u.sscscsssrerseeerserrersene rer tensrrnrsante rarere
1.3: Acceptances and endorsements, etc….dcssssereserrreernnnesennere
Total guarantees, etc. M….W.… ss ssssesserssrrrererreser treerne renerne
Off-balance-sheet items, item 2
Other commitments
2.1. Irrevocable standby letters of credit ….W.u.s.sssceseeserrererenreeneeer
2.2. Sales with an option to repurchase M1.W.…..sssssereseereseertneserneeree
2.3 Other commitments GM... ssccesseesresererseserseterneneeensenen sees nneeren nerne
Total other commitments 1(….W...sssesesrsreserseseseveeasenerenense sense sernensnneer
whole "000"DKK
1999
OQ Odo oOo
O OD ODO oOo
FB 4
1998
O Odd oOo
ODO oOo
ek
X-" Notes on the annual accounts 1999
ry
Jyske Bank (Gibraltar) Secretaries Ltd.
Whole "000"DKK
FB 5
1999
Derivatives
By remaining time to redemption
Up to 3 months
Nominal Net market
value | value
3 months to 1 year
Net market
value
Nominal
value
Foreign-exchange contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired .…G….…W.G. Ms ssscccereerrrrrrerere
Options, issued 2GMG….G.G ssssscsceeeererrerereeneeee
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreemenis, bought .…
Forward Rate Agreemenis, sold 1—M([1|1|.[1].
Equity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired …….…..sssssseresereresererere
Options, issued MM... .ssserrereerererereeeerenee
Commodity contracts
Forward contracis / futures, bought.…
Forward contracts / futures, sold...
Options, acquired …(1.(.W.…..ssssseesrerererreeree
Options, issued …G…G…G. ss ssscrrrserrerererersnerenee
Other derived contracts…....cdcssrrrerr.
OOS ODO O
ODO Do OoO
OCOSOOS0O0OG>OO0O GO
ODODJOODOO0O ODO oOo
O OG oOo
(eee
ODO Do oOo
O O O O
DODO DODO O (eee
(eo Roo,
O Q ODO OoO
OQGOCOOoOGOo oOo O OG OD oOo
OQ ODO &O
O O OoO o
DDR
Jyske Bank (Gibraltar) Secretaries Ltd.
X- Notes on the annual accounts 1999
Whole "000"DKK
FB 6
1999
Derivatives
By remaining time to redemption
1 to 5 years
Nominal Net market
value value
Exceeding 5 years
Net market
Nominal
value
value
Foreign-exchange contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold...
Options, acquired ….Wuu.u.ssenssesensreresee
Options, issued …....ssserererseseserreererer
Interest-rate contracts
Forward contracts / futures, bought...
Forward contracts / futures, sold...
Forward Rate Agreements, bought.
Forward Rate Agreements, sold …Å—...
Equity contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold...
, Options, acquired …....u.u.u.ssssccsseererere
Options, issued …...ssscserserseesereseree
Commodity contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold...
Options, acquired ….....sescererererrereree
Options, issued …M(….u.W…...sseseseererersesereeee
Other derived contracts ce
OQDODODODO O oOo
QOO 0 oOo
OQOQOQGDSDO0OO0OO oOo
OO0O0S0O0OO0O&o oOo
OoOo oOo
OD oOo O
O O oo
O ODO O
OOQOQOOODOO oOo OIO oOo Oo
ODDO
ODO oOo
O OO O o
OOoO oo oO0D0Q0o0Oo0o 0 oo
ODO oOo
( )
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FBT.
Notes on the annual accounts 1999 1999
Derivatives Total
By remaining time to redemption Nominal Net market
value value
Foreign-exchange contracts
Forward contracts / futures, bought.…….….….u.Gu.u.u.ssssceeresesreesresrenseseene
Forward contracts / futures, sold…1.Xu.u.ssscseerreessreseerseneenee renerne
Options, acquired M.G. sssscsrsesereresesrrerre rr reen ternene nn
Options, issued GM.uG…..sssscssssssesessseresner nerne renerne
0
z
ø
D
n
oOo oo oOo
Interest-rate contracts
Forward contracts / futures, bought……...uvssssssssrerereressreernerennrnne
Forward contracts / futures, sold….u..ssssscesereeereres rener eernkeneee
Forward Rate Agreements, bought MtGMG…W.G|GW svssssssssssrserrerrseseeneennneer
Forward Rate Agreements, sold 1(1(…].W.X.….sssseserererre nerne
OQOOOOODO ODO ODO
Equity contracts
Forward contracts / futures, bought…..u.u.sdssssessererrereeene renser
Forward contracts / futures, sold….u.Gu.u.u.vsssscsesererereeerenserreenernnennee
Options, acquired MM... ssssccereerereeereererersrrrrtsterernenerrn renen
(eee
Options, issued MM... scenerne renerne sneen
Commodity contracts
Forward contracts / futures, bought…..Xu..sssssescersreesesernenne senere
Forward contracts / futures, sold…...u..sscssesseresrernernerrerenenerrennnerne
Options, acquired M1.W….ssesssssrereerrsener renerne renser
Options, issued M.…. sssscereeeeteeereeeeee renere serar renerne narre
O ODO
Other derived contracts…..G.u.sssssceserrenserrenesrsvsre ren nnnnesrnennenennnnner 0
Total net market value.….G.u.u.vxdssserssererese essensen ertenennennns nere nggne
O OO O OQ0O0O0O0O00O0o oOo JOO0ODDO O
O ODO O
FDD
X- Notes on the annual accounts 1999
(1
Jyske Bank (Gibraltar) Secretaries Ltd.
Whole "000"DKK
FB 8
1999
Derivatives
Market value
Pos. Neg.
Average
market value
Neg.
Pos.
Foreign-exchange contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreemenits, bought .…
Forward Rate Agreements, sold …Å(.[.[.
Equity contracts.
Forward contracis / futures, bought.…
Forward contracts / futures, sold...
Options, acquired .GM….u.…. sssssereereeerererereree
"Options, issued 2G…M.…..ssssccerereeeseseeersrseeser
Commodity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired MG ssmssecccessrrseserenereee
Options, issued Gu. sssscsseeeesenereerennnseee
OD God oOo OQDGOSOODO oOo oOo O&OOoO oOo oOo
OD do oOo
OOO0O0OOo o BOQOdODODO CO oOo
ODD oOo
ODO do Oo
ODO Do oOo OQOOIO ODO oOo ODO ODO oOo
O ODO oOo
OGDOOODOO oOo OIO oo
O OD oOo
ODO dd oOo
”—
i
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK — FB9Y
Notes on the annual accounts 1999 1999
Derivatives Marked value of
non-guaranteed
contracts
Pos. Neg.
Foreign-exchange contracts
Forward contracts / futures, bought... 0 0
Forward contracts / futures, sold... 0 0
SWaApPS.sussereserrserrsernesesrenrrnenerenes skeerne 0 0
Options, acquired …...….G..u..sssseseresreerresene 0 0
Options, issued M(.W…...sssssesesereessenseee ser 0 0
Interest-rate contracts
Forward contracts / futures, bought... 0 0
Forward contracts / futures, sold... 0 0
Forward Rate Agreements, bought .… 0 Q
Forward Rate Agreements, sold …Å…..]. 0 0
SWapS…ssscceeeresereereeesereresseesr reen rr rennene ner 0 0
Options, acquired 1…......ccseseesssesseserer 0 0
Options, issued …...ssesesesereserereerrese 0 0
Equity contracts
Forward contracts / futures, bought.… 0 0
Forward contracts / futures, sold... Q 0
Options, acquired …...….….sssesceresrsursererseee 0 (9
Options, issued M(..…..sssseseserssrssenssrever 0 0
Commodity contracts:
Forward contracts / futures, bought.… 0 0
Forward contracts / futures, sold... Q 0
Options, acquired …......ssscencsererereresee 0 0
Options, issued …(…...sssssesrssesessererseee 0 0
Other derived contracts.................… 0 0
Total.GGududssescesererererererrersensseserresenererreeee 0 0
Total after netting …......u.u..ssecccersserereee 0
Outstanding sport transactions Nominal Market value Net market
value Pos. | Neg. value
Foreign-exchange transact. purchase 0 0 0 0
Foreign-exchange transactions, sale. 0 0 0 0
Interest-rate transactions, purchase … 0 0 0 0
Interest-rate transactions, sale .….[.[.].. 0 0 Q 0
Equity transactions, purchase .….[. 0 0 0 0
Equity transactions, sale... 0 0 0 0
Other transactions, purchase .….[.[. 0 0 0 0
Other transactions, sale... 0 0 0 0
Total 0 0 Q 0
kd
BÆR
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 10
Notes on the annual accounts 1999 1999 1998
Credit risks Advances + Advances +
guarantees guarantees
Advances and guarantees according to as % at the as % atthe
sesctors and branches end of year end of year
1... Public authorities….u.u.u.u.d.dssenseveeeevseeere urene nsessensenenenenene rense neeeee -
2... Industriges…..u..sssscensesseresesne vene reenesne reen en nendennente nn seneste reen enes -
2.1. Agriculture, hunting and forestry…....…..sssensereesersesssesssrrseserees - -
2.2. Fisheries.…….....vensereererseesresneeesesesenenenerresneennenen nes snessen keen rennee - -
2.3 Manufacturing companies, extractive industries
electricity, gas, water and heating plants... essence. - -
2.4. Building and construction companies …..ssssscseresesevenserrne - -
2.5. Trade, catering and hotel businesses…..vsencereeresrrererene - -
2.6 Transport, mail and telphone……..u.W..u…..sesencesereeereseesesenerennneneee -
2.7. Credit and financial institutions and
insurance agencies…...ssssererrrserenrnesenenenrerreneenesensennnnnsnerdsee
2.8. Administation and sale of real estate,
business service…..…...sessesveseeeerereesessesreere eres sne rnernsssrennn esse seee
2.9 Others….u.u.u.dcsesereresesereseerereerensenesennennene renerne renee neeenk engene renee - -
3... Private……..ssssscereserereeversensrvere nens eesseenever renees eve rne senere reen
1-3. Total.….….Xu.u.u..vcenneseereererveeneeeevererenevevees tee venneeneeeveenne sees senere es nenee - -
Credit risk on derivatives
Positive market value Counter-party including risk weighting:
(after counter-party risk) 0% 20 % 100 %
Positive market value after n 0 Q 0
Please see the order Danish Financial Supervisory Authority S27 (3) and S12, for a list of
counter parties within the 3 risk categories.
Subordinated assets Associated Affiliated Other
Undertakings Undertakings Undertakings
Subordinated assets….. 0 0 0
Accumulated provisions 1999 1998
Provisions at the end of the year on advances and guarantees .….]. 0 0
Provisions at the end of the year on credit institutions and other
items involving a credit risk M…..s.…..sssnceveeevenerereenevenesensensnnneneenne ennen nennen 0 0
0 0
Total accumulated provsions .….|.…W….…...ssseesvseeeeeeserserersersereeesererernene renere
Accumulated provisions on advances and guarantees as a
percentage of advances and guarantees at the end of the year 0,0 0,0
Total non-performing assets at year end ……..dcsssceeseserersneerssnenee 0
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 11
En
<- Notes on the annual accounts 1999 1999 1998
Market risks
CURRENCY EXPOSURE
Total assets in forreign Currencies…..W..u.u.sssssscresesresesrersensessnsenennneeenesen nen enee 1
… Total liabilities in forreign curencies…..u.udsssssesseersstsresssssesesenseseneeeserrnenneee 1
Currency exposure Te.sseseseseeereeessssnrnnssseneeenenssnssrenenrenneenee sense n ennen sen ns nsee -
Currency exposure 1 as a percentage of core capital after deduction... -
Currency exposure Z.ssssececcereeseverenseneeneeeeneerenererereereserveness sense essensen nen sn seere, -
Currency exposure 2 as a percentage of core capital after deduction..]. -
INTEREST-RATE EXPOSURE
— Total interest-rate exposure on debt instruments …..........sesssrecsssserseseeeee -
så | Interest rate exposure by currency involving largest interest-
rate exposure:
1 DKK <0ciio,. sveveseeereeeseenersesssensssensessseseseenerreneere -
2. XXX 0000000 vevernereneeesressennenereseensenseenseennensee -
3. XXX —00i00—oo——. svevsssesrsensnenssenseeresessnensenenenenneeresesen -
4. XXX 000———. svasesevensensnssreeernevnenneenneenenennensessesee -
5. XXX eres sesnnngges -.
6. XXX 00000 seevreenevenavsessenessnsenensneneereneeeeeneen nere -
7. Other currencies 0 seecereererseensesennensnerresessseneseseenensrnener -
D Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 12
<- Notes on the annual accounts 1999 1999 1998
Assets and liabilities by residual maturity
Åssets at credit institutions and central banks
1. At call 1((.W..usssssssseeseeresseseeersvunesesseeeeesseveneenesenneee sner rens ennenee
2. Up to 3 months 2tM.….msmsenseeereressrerrenerenserenesen esserne ennen er rase
3. Over 3 months and up to one year …..Gu.u.u.sdsccssreeeeresreeer
4. Over one year and up to 5 years ÅM su ssscsreeeerneerereesenenereser
5, Over 5 Years sssssecneseversseesreneesseneeennesesneede reserverne genrene enderne
vv 00OQO0OG0O0 mm
Advances
1. At call …..M.….u.u.udsssesssreeesesneseseeseesen aserne erne senderen nerne nes
2. Up to 3 months MM.u… smvensesosesesereerenense enes ve rer en ses ren snes nerne n ne
3. Over 3 months and up to one year ……..sssssssseeeerreeerereree
R
O
<
(DD
-
oOo
3
ø
ie
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mø
-”+
>
3
ao
Cc
2
er
oOo
O
sær
OD
mm
==
n
OVCOCOO0GOO ODO
Debt to credit institutions and central banks
1. At call sG.ud…sssmsssersesesenesenseneeseessgrerensesnnesesnenseenssesenene rese enge
2. Up to 3 months (….…..sssseseeserese rese nen snerese renser ner ns see near nser
3. Over 3 months and up to one year Å….….….….ssssevsssseressesereresene
4. Over one year and up to 5 years Mu. sssccreerrserersererrsseereernere
5, Over 5 years sM.ssscevesereneererrereseeereneresesrverreeveneeresesernen era rneee
OQQOJOOOO o
Deposits
1. At call …….W.u....sescccsrrseeesereesereseseesnesenserenesense reen nnnen sneen en enseer
2. Up to 3 months 2M..….Msenseerseresrereeseseevnensenennsenrenennrse seen erees enes
3. Over 3 months and up to one year ……..u.u.ssscscsersrssernereese
4. Over one year and up to 5 years Å….Gu..ssssscevseeseneresrenesneereeer
JOQOJOQ0DJO0ODO O
Issued bons, etc.
1. At call ….G.….sssseereeresrrssrsneesrenennen ene ressne sener sneen keen sne enee
2. Up to 3 months ….M.….G.….ssenseeereenesseresssvesensense vre sneen renses ed snenee
3. Over 3 months and up to one year M1...sssnsssererersreeererrser
4. Over one year and up to 5 years ÅG mu. ssscssreresserrssereeenseeres
5, Over 5 years susessecereeersssserseneeervesenesensesersresennssessnnsennsgenssnee
OOO0OGO oOo
JQJOQDdJ0D0D OG OVQOQO0O2>2d0R0 oOo OQOQIQOOCO oOo OGO0G0>&0 mm
DOGS Oo
(Cars
Jyske Bank (Gibraltar) Secretaries Ltd.
<- Notes on the annual accounts 1999
Re:
Profit and loss account
Interest receivable/premium/discount on forward
transactions of:
Claims on credit institutions and central banks…Å…..[.[.[.[.[.[.[1.[.…
of which
Foreign-exchange contracts …..W...ssseneseseensresnsserenesenne
Interest rate contracts ….….…..sssenseereserreeesesnssnnneeressesnnenee
Equity contracts M.u...ssesscsserseesrssnssseseesesreesennæesnensessnnree
Commodity contracts…..W.Xu.u.u.sssnnsssereereserveereenvensnnrsenrneeere
Other contracts …….u.u..sssssereseresserneererseesnenesenseneensenennesses
Others (+/-) sense veerssvereessrensnaresenenneesnneennsenr nn se seerne renee
Total interest receivable…......ssssssesevereresersesenseessnsessnnæeee
Of which genuine sale and repurchase transactions under
Claims on credit institutions and central banks….........
Loans and advances….........ssevecesevevsereseersssesererees renser
Interest payable to:
Credit institutions and central banks…….....ssssssessevereesreser
Deposits…Å….....sssessereeerseverrsnerenssereenesersenerer sees renerne nens sen srer
Issued bonds…..u.u.u.dsvesceseeerereeeeee nes evnen ennen veer nn gens snes sner enes
==, - Of which genuine sale and repurchase transactions under
Credit institutions and central banks…….......sssscenerrreseree
Deposits.G….museeeeserressensreereernnssesesenenenenenn ennen neger e sn ren gene
Dividend on:
Shares.sssennceeveeesseresrsenseseeneseeerennsenn egnene nnee nens engen seerne
Holdings in associated undertakings, etc….G..u.sssserererreree
Holdings in affiliated undertakings: …..u..ssssessrsssesresseneer
Total dividend on shares and other holdings 2...
Whole "000"DKK
1999
(eee RkeleleRe ODD oOo
O O
O O QOO0OSO0O0G0O GO oOo
QOQOG OoO
FB 13
1998
OG oOo
OVQCGQOOSG0O0O0OOGD oOo
O oOo
O OoO OQOSQSOSO0Q0O0O0OO oOo
ODO GO oOo
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK
XD
. Notes on the annual accounts 1999
Re: Profit and loss account (continued)
6. Price adjustments 1) of:
1999
FB 14
1998
Bonds…..u..dseseseverereseseveesssenennne res eernersesenne sneen renere stenene narrer 0
SharesG.u.sssseervesereessreekerensnsennesnssnesngenenreeesnes senere eres ke re rese nn sse 0
Advances with fixed interest…..W...ussssensesesensenresessssesesereeee 0
Exchange-rate adjustment of foreign Currency... 0
Total other financial instruments (Derivatives)... 0
of which
Foreign-exchange contracts GM .m.ssssccecereereenereresgensenenenerene 0
Interest rate cContracts …...ssssevceeveesssersreeeeeets ene ress sn nesnene 0
rn Equity contracts M….W.u..sensssssseereeressnsensserenesesenensnennenenesenennee 0
54 Comodisty Ccontracts…......…..ssseeverresereeeersseeersneerereenersnenene 0
== Other contracts M(..sserserreeserrersesesresenseensesserentenenesnnnsnnnee 0
Total price adjustments ….u.u.u.u..vdsessceserseveserensse renen eennesennenre 0
Of which relating to pension pools …M(..u.sssssnnersererrererereensee 0
1) The sub-items include price adjustment of securities, etc., forming part of the pension
pools. Adjustments are made for these price adjustments in the item pension pools
below.
ODO Oo
ODDO oOo
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK
Notes on the annual accounts 1999
Re: Profit and loss account (continued) 1999
8. Staff costs and administrative expenses
Salaries and remuneration to Supervisory Board,
Board of Managers and Board of Representatives
FB 15
1998
Supervisory Board M..…sssscssseseeresenrereses sett esee ennen sete n enes nes rtrr 0 0
Board of Managers…..susssererersereeesssersesenensnse rens enneerenernsereree 0 0
Board of Representatives ….........sssenuusuevesenessrseveesseeneenreser 0 Q
Total MG. sseneeeseeseesesreneessennesenenens enedes renere ere ns keen ren rs est 0 0
Staff costs
Wages and salaries ….W.u.u.scsceveeressssrersssseereeerses se neenennerne 0 0
Pensions Ms sceveeressesesersesssesnnsennnee skr esterne rener sneen e nn enes nen 0 0
Social security costs ….W….u...ssseseseseesssesstsesersrsserven reen ennen sne 0 0
Total …….G.G….G.u.ssenserrserssee renser teresknere tr rrr ears sk serbere nes ens r sense 0 0
Other administrative expenses …....ssssseecssesereersserseerereneerneneee 0 0
— Total staff costs and administrative expenses…........u.ssseseeere. 0 0
12. Price adjustments of participating interests in associated and
affiliated undertakings
Price adjustment of holdings in associated undertakings, etc. 0 0
Price adjustment of holdings in affiliated undertakings .….[.[. 0 0
Total price adj. of participating interests in associated and
affiliated undertakings…........sssesevsesssserveeseserseeerseepsenvee sneen ss ener 0 0
15. Tax
Estimated tax on the year's income. ........ssseeevesererereersesesrrere 0 0
Deferred tax (timing differences)….........ssssssesuneereseereenesresenensse 0 0
Adj. of tax calculated in prior years …….......…..sesscevenerrseresererssserer 0 0
Total tax .M…M.….Mssseneesereneeurens enets srrenaseeer sr ske nere kerner een essere sn sne nerne 0 0
Supervisory Board, Board of Managers and Board of Representatives
— Amount of loans, charges, securities and guarantees
kl issued to members of the institution's. Advances, etc. . Advances, etc.
— Supervisory Board 2 scceeveerersrrrsretsrererrsrre reen renernen 0 0
Board of Managers 02 eneserseesssrsereeevssenseneesseeeenneeseenesenee 0 0
Board of Representatives .….......usssnsceeverrreveseerenererererressesnne Q Q
Securities Securities
Supervisory Board MGM. .«….ssensereserereresennreneseressenree sneen esse sner nes 0 0
Board of Managers …..M….…..ssssscsevenevreseeseeeserenrenssesessenereeenneevesenee Q 0
Re: Auditor's Fees
Total fee to auditors elected at the Annual General Meeting
in charge of the statutory audit…............usnsscserserserseserenrensgere 0 0
Of which for services other than auditing.................sssceceeererrerer 0 0
Re: number of employees
Average number of employees during the financial year converted
SØ into full-time employees (1 decimal) 0,0 0,0
Jyske Bank (Gibraltar) Secretaries Ltd.
Notes on the annual accounts 1999
: —… Assets
Claims on credit institutions & central banks
Claims at notice on central banks ..cevereerrreerererenere
- Shares, etc.
Quoted on stock exchanges …..G..u.dssssusssreereenseressserserersese
Other shares…....envesersesesessrssesssrsssgenessensessne ene nsesde rener nesner
Other holdings ……..u..sssssererrsrsesrerserssneerereseneeneesssneeerseneesese
. Total shares, etc. MuG…. ...sssnsceerenesnsnrenevenenensessseereennensenen renerne
a) Financial current assets valued at market value
b) Difference between the purchase price of financial
current assets under a) and the higher market value
on balance sheet date …...G.ssssseeusssereerseserseeneeevsrnene
c) Financial current assets not valued at market value -
(unquoted) Mw... ssscssescerereenerreerrenn renee rnenes sne ren ener e reen rnnnee
d) Difference between the purchase price of financial
current assets under c) and the higher market value
on balance sheet date ....Gu.u.X.ssevene ere sveereseneereeneenereses
Whole "000"DKK
1999
ODO Do
(ele)
FB 16
1998
&O OD GO oOo
ODO &Oo
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 17
x- Notes on the annual accounts 1999
Re: Assets 1999
Financial fixed assets Affiliated Associated Other
undertakings undertakings and
other significant
undertakings
holdings |
A. Acquisition value, beginning ….]. 0 0 0
- Exchange rate adjustment of
the year MG. ssscserereesrererererenneres 0 0 0
- Additions of the year 1Å1(.1|1|1|.W[.W.[.[. 0 . 0 0
- Disposals of the year …—.[.]. 0 0 0
. Acquisition value of assets
held, end ,……G.GWG ssssceesreeerensreersrrsereee 0 0 0
. Revaluation and writedown
beginnng.G….sssssseeseressserrserserernererer 0 0 0
a) Exchange rate adjustment of
the year GMsussseccccesesrreserrere (+/-) 0 0 0
b) Profit and ISS 1... (+/-) 0 0 0
c) Dividend 1. .sssscscerererresssererer 0 0 0
d) Difference upon acquisition.….. 0 0 0
e) Other capital. movements….... 0 0 0
f) Revaluation and
writedown of the year 1... 0 0 0
g) Revaluation and
writedown reversed….u..sscers. 0 0 0
D. Revaluation and writedown of
| assets held, end (M.M ssdevscererssee 0 (8 0
E. Holdings in parent companies... 0 0 0
F. Portfolio booked, end
(B+ D+ E) semseceeerrereresereseererssesere 0 0 0
of which credit institutions ….]. 0 0 0
G. Portfolio booked, beginning .…... 0 0 0
of which credit institutions ….….. 0 0 0
er,
øn
ene
Ros
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 18
Notes on the annual accounts 1999
Re: Assets 1999
Goodwill Other intangible Total
Intangible assets
A. Acquisition value, beginning …..
- Exchange rate adjustment of
the year GM.uuWssssceverersenvereneneseseee
- Additions of the year …..
- Disposals of the year .…..
B. Acquisition value of assets
held, end sGG..dssssenesesenererererseneneneser
C. Depreciation and writed. begining
- Exchange rate adjustment of
- Depreciation of the year .…..].
- Writedown of the year …—(.1|[|.W[|.W.|.|.
- Depreciation and writedown
reversed
D. Depreciation and writed. held, end
the year Mt .….…. .sssecerseeressesersrsneneee
E. Portofolio booked, end
Portfolio booked, beginning …...
Expenses of the year
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assets
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Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 19
Notes on the annual accounts 1999
Re: Assets 1999
Tangible assets Land and Machinery, Total
buildings equipment, etc.
A. Acquisition value, beginning .….. 0 0 0
- Exchange rate adjustment of
the year ssssencssscerererenerenenennereer 0 0 0
- Additions of the year …….[. 0 0 0
- Disposals of the year …—….[.. 0 0 0
B. Acquisition value of assets
held, end M….….….sssenseserseresnsereeseereneee 0 0 0
C. Property revaluation begining ..…. 0 0
- Exchange rate adjustment of
the year G..ssseereserereererrrreseeenener 0 0
- Revaluation of the year .….[.[.1.1.. 0 0
- Revaluat. of the year reversed Q 0
D. Property revaluation held, end ..…. Q 0
E. Depreciation and writedown
beginnng.…G…GG…sssssseseseeerreserrenersesereree 0 0 0
- Exchange rate adjustment of
the year Gmmu….ssereneseeerereresverrerrenee 0 0 0
.…= Depreciations of the year…... 0 0 0
- Writedown of the year .….[.[.]. 0 0 0
- Depreciations and
Writedown reversed……...csere. Q 0 0
F. Depreciation and writedown of
assets held, end MG.u.….sscersrerereresrsese 0 0 0
G. Portfolio booked, end 1((.u.….…..ssere 0 0 0
Portofolio booked, beginning... 0 0 0
Recent tax assessment of real property 0
Immediate amortizations on machinery
and equipment etc. have been made
0 0
during the financial year totalling 2... .u.dsssscererrssenereenene
Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK
ZA
>=. Notes on the annual accounts 1999
Re: Liabilities
Debt to credit institutions & central banks
— Debt to central banks2secseurerereesrrsrereee
Debt to credit institutions…....u.u..sssneneverssnreesrerenee
Total Debt to credit institutions & central banks.…
Deposits
Deposits on demand 2... Gmssenseereservenesnessnerrenesssnnee
Deposits at notice ….Wu.u.u.u.u..dssseesesssereeseensnnnensnennees
> Time deposits M1(]Y.W….sssccreserssrsesenensnree ren rensese reen seen
Cl Special categories of deposits …....ssscescersersreersee
— Total deposits …Å….u.u..dsseneseervesernereeserennsenseneseenegene
Provisions for commitments
Provisions for pension commitments
Tax provision for the year... scssserseeserreserseenee
Provisions for other commitments sense
Total provisions for commitments…......Wu.. sc.
Rn
1999
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OGQGO GO oOo
ODDO Oo
FB 20
1998
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Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 21
X-- Notes on the annual accounts 1999 1999 1998
— Genuine sale and repurchase transactions and reverse sale and
repurchase transactions (Repos/Reverse repos)
Of the below assets genuine sale and repurchase transactions
account for:
Claims on credit institutions & central banks….Gu..ssccscrerrrreere 0
Loan and advances .1GMGWGssscecccesesrseserrereeneeeeessersnenessen sene ennsnnnnne 0
Of the below liabilities genuine sale and repurchase transactions
account for:
Debt to credit institutions & central banks scenerne 0
GE Deposits GG .sssevesseserereseerstsrserree renee serene nesten 0
>—" Assets included in genuine sale and repurchase transactions:
Assets
5... Bonds…..dssccecereereesereeensrseern ene serene rs er een seeren ennen
6. Shares, etc. G.u….ssssceseeeerereereserer serene raseret
7... Holdings in associated undertakings, etc. …..W...ssssnssrere
8. Holdings in affiliated undertakings….....sssscsserrenenereenerner
10. Tangible assets M.u….G...sssseseceressereeeesere serene seeren rarere
O ODO oOo
Z
OBO OD oOo
oa Jyske Bank (Gibraltar) Secretaries Ltd. Whole "000"DKK FB 22
» Notes on the annual accounts 1999 1999 1998
Balances with affiliated and associated undertakings, etc in the group
Affiliated Affiliated
Asset item. enterprises enterprises
3... Claims on credit institutions and central banks….. 1 1
4. Loans and advances …….…..….ssseeeeserrereesnnnne sees serene 0 0
5... BondS….W.….u.sscesesesereerrserseree renen reen rss rss nens renee 0 0
æ Total asset items M…G.G.G..Mmssssssseeeresrsrerseerrenennssrnsrensnnnee 1 1
— Liability item.
1. Debt to credit institutions 1(.d.dc.ssseceeeenererenner 0 0
2. Deposits MG. .ssscceeeeeevesseeresenernenessee renere seen nen nnneee 0 0
3. Issued bondS….GWG. ssssssseressee res veere revnerne rn seen re nn ene 0 0
Total liability items …..u.u.ssscssssssesrsereereerserenernneerrnnnne 0 0
Associated Associated.
enterprises and enterprises and
other significant — other significant
Asset item. holdings holdings
& … 3... Claims on credit institutions and central banks….… 0 0
4... Loans and advances ….…G. uGw….sscereeeeeresererseereernrrererneneee 0 0
5... BondSs….u.cseeesereerksrerserreresre reen ere nere ternes serene 0 0
Total asset items …M1.sssvcereerrereresereerennnnsernenenesner 0 0
Liability item.
1. Debt to credit institutions ……..d.c.cserererereernreee Q 0
2. Deposits sGwsssssssseseereserse seerne nesker ere narrer rnn rn nere 0 0
3. Issued bonds…..ssesccesereereereergense versene ennen en nnennee 0 0
Total liability items M(1.].W.X..sssscessessesrernerrereene ennen erne 0 0
ASO
This financial statement has been prepared by the parent company, Jyske
Bank A/S, in compliance with the Danish accounting principles for credit
institutions, etc.
Silkeborg, 21 February 2000
The board of Management:
Ål — øl
s Dam if F. SP
fl hr
/Jens Borum
("
Als Se
Erhyery
"Sn
Felskabsst yet en
fam 29 MpS 2000
KTU
TRENDSETTER, S.L., SPANIEN
SPANIEN
Årsregnskab for 1999
Cu
TRENDSETTER S.L. Whole "000"DKK FB 1
Profit and loss account for the financial year 1999 1999 1998
1... Interest receivable …..sssserrrerrserrsnessekers aserne renen sense ennen ser rennen 0 0
2... Interest payable…….....X.Cu.u.u.sscssssseerernrr seerne renrs nerne earn 0 Q
A.… Net income from interest …..u.dsssssssesrerrerrereteer rener serene kreerede 0 0
3... Dividend on shares, etc., and other holdings …..….sssssecrsesereerrrreernene 0 0
4... Charges and commissions receivable, M….M….….G. ssssceccesseersessenrrrrereeeresernne 0 0
5... Charges and commissions payable, (..ssssseserersereeerrenersrseeneene sengene 0 0
B. Net income from interest and charges 2…….….…..ssesererreesereeeserrrtarsseerrnrnnee 0 0
6... Market revaluation……..…..u..ssessssereerrrreererseresser reen serresee renerne nerne 0 0
7... Other ordinary income ……...u..vdssseseseerrsesrseser senere enern rener renser eee 376 935
8. Total staff costs, etc. and administrative expenses …..dssscrrersresnnese 121 497
9. Depreciation of & write-downs on intangible and tangible assets …….. 255 322
10. Other ordinary charges ….ssscssceseesereeenerers benene renere serererneea renerne Q 116
11... Depn. and provisions for loss on bad debts ….u.u.u..ssssserrseseererrerrsneee 0 0
12... Price adjustments of participating interests in
associated and affiliated enterprises 1(.W….sssessereresrereeerere essensen ner rrkee 0 0
C...: Profit/loss on ordinary activities 2.…..u....ssssserrseerrreseneeresern sense rene nken 0 0
13... Extraordinary income 1... ..sssserereserrsestrreersenrerrrrrnne renerne rr nnnne 0 0
14... Extraordinary charges veveeeseserrrsersssesersenr seernes ere nerne nr senere rrsnneg 0 0
15. Tax sssssccereseeeerererereesteeeserersererereee renerne serene renerne 0 0
D. Profit/loss for the financial year …….W.W.u.u...v.dcssssererreerrrrgesnerreerner nere nnnnnee 0 0
Distribution of profits:
1. Profit/loss for the financial year …....u.u..sssccerrsererersennesr ennen reen nnee 0 0
2... Brought forward from prior years …....sssssscsersererseserersener rense nen ennnnen Q Q
A.… Total amount available for distribution ((..sssssereressseresrrerererrnressasrneee 0 0
3. Dividends …..ssssssreeeerereesenrresen nens renerne resterer renere renerne ner enee 0 0
4... Various other purposes ,…G….…..ssssserererresser sneen ennen nnns 0 0
5... Appropriation to own funds …....sdssssccsssersererers ens erenre renerne anene 0 0
B. Total distribution of the amount available …...dsssrenrerrrenrserersenenne Q 0
Å
TRENDSETTER S.L. Whole "000"DKK FB 2
Balance sheet as at the end of the financial year 1999 1999 1998
ASSETS
1... Cash in hand and claims at call on central banks 2... 0 0
2. Treasury bills and other bills eligible for refinancing with
central banks Q 0
3... Claims on credit institutions and central banks ….…....dccsscsee 0 0
4. Loans and advances …….u.W."..ssccerreresseserreeensrrrrrenen renen sens ere rnnee 0 0
5... BondS…...u..ddssseeeeseseseesresereess renere rr erne r erne ener e renee n reen erdes 0 0
6. Shares, etc. MM.ssssceersereesererrerrereessn renere reen erne nerne reeks renerne 0 Q
7. Holdings in associated enterprises, etc. (C.V. .ssssssssnsesenesenenee 0 0
8. Holdings in affiliated enterprises…….....Gu...dsscecssseereereseresernerneee 0 0
9. Intangible assets …..u.Wu.u.u..ssseserresererserrerreser renerne renerne snnen 0 0
10. Tangible assets …….W.u.u.u..dsserrrererreereserreereenesssse renere en ennen snennese 5.266 4.907
11... Own holdings 2M.sssccsrresrerereeneerreeersesee reen ene re renere neste rdene 0 0
12. Other assets ….W.W….…..ssseeseerrseseeneeerereneersrr seernes sneen ere serene 0 Q
13... Prepayments and accrued income …….W.u.u.ssssrseeserererererrreerener Q 0
Total assets …….G….…..sssceerererrsersersrre serene erne seere renere rbrrner ternene rr ngge 5.266 4.907
LIABILITIES
1... Debt to credit institutions and central banks M(.…..sssererrrrreree 0 0
2... Deposits M.V. sssceeeseeeereeerssese renere renere teen errnnrs renerne 0 0
3... Issued bonds…..csssseerserreser renees seer nn rener rr t renere rss renere 0 0
4... Other liabilities ..….....dssssesrerrereeneesessennr eter renerne r ternene 0 0
5... Accruals and deferred income …..W.W.W.W.W..….…..ssscsseeereneeserrrersrtereenee 0 0
6. Provisions for liabilities and charges ……..u.vssssesrereerrreerrserneee Q 0
7.… Subordinated capital investments …...ssscsssserererrreerereree renee 0 0
8... Own funds
8.1 Share capital/cooperative capital/guarantee capital ….. 5.266 4.907
8.2 Share premium account .GMG.GW.…G. sssssseseereresrrrreeereereesnnes rarere 0 0
8.3 Reserves G.sssesceeeveeenerrrrnererrereesseneneerereetereee renees eres rese 0 0
8.4 Revaluation reserves .….….….G..ssscenverserereereeresereeeesenne rene esne rene 0 0
8.5 Brought forward from prior years M1.sssscseeeesersesrrennesene 0 0
8.6 Carried forward from profit/loss for the year ..….............. 0 0
Total own funds ,GM.u.….sssssceserereeeresersresserrersersersereer rener rern renterne rrer eee 5.266 4.907
Total liabilities ......u.u.u..vdsssseseeeeeeseereesersneee renerne ennen rente 5.266 4.907
OFF-BALANCE-SHEET ITEMS
1... Guarantees, etc. MM... ssssssenreverersenessrrrn renerne ener rees Q Q
2... Other commitments …...u...sssesereesesrrrrensterreneren serne renen nen ernrs Q 0
Total off-balance-sheet items ….G…G.G…. sssssesereeererrerseeneerrne nerne ennen nne nn en nes Q 0
Derivatives are specificed in the notes FB5 - FB9Y
TRENDSETTER S.L. Whole "000"DKK FB3
. Notes on the annual accounts 1999 1999
Own funds
Capital movements Opning Additional Capital Addition in
balance capital / write down — connection
bonus shares with merger
Share/cooperative/guarantee capital . 5.536 0 0 0
Share premium account 1(.(.….Wu.…. ss 0 0 0 0
Undistributable savings bank reserve... 0 0 0 0
Reserves for net write-ups according
to the equity method ….G.….W.….ssnssrereerenree 0 0 0 0
Other reserves .…G….GWGwsvseneseerersserererersrenenee 0 0 0 0
Revaluation reserves .….…....cdssccrererseee 0 0 0 0
Brought forward from prior years ….. 0 0 0 0
Total own funds M1(.W.W…..ssenenereserererrerenee 5.536 0 0 0
Closeing
Additions Disposal Balance
Share/cooperative/guarantee capital . 0 270 5.266
Share premium account M1(1(|.W.W….s seere 0 0 0
Undistributable savings bank reserve... 0 0 0
Reserves for net write-ups according
to the equity method …Å…..…..sssserereeerrrrer 0 0 0
Other reserves .…….….… sssercesseseresersrenesenesee 0 0 0
C Revaluation reserves GM. .s.ssscccrreererenes 0 0 0
—-… Brought forward from prior years .….. 0 0 0
Total own funds …...ssscecesereerrererereere 0 270 5.266
SOLVENCY RATIO CALCULATION. 1)
1. Core capital after deductions …Å(.W.u.u.u..sdssssesererererene re eren ene enn sense kanen renere n nens nr sn renere
2. Surbordinated loan capital and short-term supplementary capital 1...
3. Weighted assets not included in the trading portfoli0.…....W...sssenenserersesererssneene
4. Weighted assets with market risks, etc….Xu.u.u.sssssresersenenvenese kevevevvsveeseeererere vsere
5. Total weighted assets ( items 3+4) …GWGW.G.Gd….sssssessesserereesener nr ennen ennen renss senere rene
6. Core capital after deductions as % of total weighted assets …….....….Wu.u..sssccee.
7. Solvency ratio pursuant to BSL S 21 (1)MMGwG. snscccererrererrrrenserssn serene (1 decimal) …
1) Calculated according to the order of the Danish Financial Supervisory Authority of 19 June
c" 1977 on the capital adequacy requirements of banks and certain financial institutions.
TRENDSETTER S.L.
CD
Notes on the annual accounts 1999
Guarantees and other commitments
Off-balance-sheet items, item 1
Guarantees, etc.
1... Guarantees
1.1. Financial guarantees ……...Gu.Xu...ssssseserrereeserresenne sense rense ner en ne nnes
1.2. Other guarantees…..u.Xu.u.u.sssssseurereeerverevesrnner renerne snes enes nen nnnss ene
1.3. Acceptances and endorsements, etc…...vd.ssssseseveneeneeesrnesenene
Total guarantees, etc. MMGM.….….dsssssseesserenerree ren ernen senere renerne e renees
Off-balance-sheet items, item 2
mn Other commitments
& 2.1. Irrevocable standby letters of credit 1.…....W.Xu...dsssnceerererressrnenee
— 2.2 Sales with an option to repurchase 2…..….…..sscneseneeereserresssresernesne
2.3. Other commitments ……........ssssseereversrerrssevenerenssnee ennen sne rvss ene
Total other commitments …....u.uvdssesserrresrrereteresee sener ege vene ereenennsernen se
Whole "000"DKK
1999
O GO dd O
ODO &O oo
FB 4
1998
Q SGD oOo
JOJO IO oo
TRENDSETTER S.L. Whole "000"DKK FB5
X&- Notes on the annual accounts 1999 1999
Derivatives Up to 3 months 3 months to 1 year
By remaining time to redemption Nominal Net market Nominal Net market
value value value value
Foreign-exchange contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
SWaps.Kssssseerererrvesererrner seere rer r bre nkese 0 0 0 0
Options, acquired …..usesesesrrseseeseersrese 0 0 0 0
Options, issued …M.Gu.….Gsscserreerrerrreterrerserer 0 0 0 0
( Interest-rate contracts
—— Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 (9 0
Forward Rate Agreements, bought .… 0 0 0 0
Forward Rate Agreements, sold …Å….[.]. 0 0 0 0
SWaAPS.sseneserereerssesereversen ener enes srerernss rene 0 0 0 0
Options, acquired …….u..sssssssseecseereseesee 0 0 0 0
Options, issued …….Xu.u.u..senesereseerrrerserere 0 0 0 0
Equity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired 2... H 0 0 0 0
Options, issued 2... ssseceeseeserssrrssenes . 0 0 0 0
Commodity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired …….u.u..sssecseresreresesee 0 0 0 Q
Options, issued ….…..sssseeverersseesrernees 0 0 0 0
Other derived contracts……...............… 0 0 0 0
TRENDSETTER S.L.
Notes on the annual accounts 1999
Whole "000"DKK
FB6
1999
Derivatives
By remaining time to redemption
1 to 5 years
Nominal Net market
value value
Nominal
value
Exceeding 5 years
Net market
value
Foreign-exchange contracts
Forward contracts / futures, bought...
Options, acquired ….W.….ssseseseeerrereree
Options, issued Å….u.…. screen
Interest-rate contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold...
Forward Rate Agreements, bought...
Forward Rate Agreements, sold ….
Equity contracts
Forward contracts / futures, bought.
Forward contracts / futures, sold…...
Options, acquired …...ssscererereesnerereer
Options, issued M..… sssccceeeseeresereersneeee
Commodity contracts
Forward contracts / futures, bought...
Forward contracts / futures, sold...
Options, acquired …….….Gu.u.dssceserersrsrere
Options, issued ……….u.G….…..sseccesessererrerrreee
Other derived contraCts………....sse
DOGS oOo
OOO OD Oo
OQOOQO0Q0DJ0DO0O GO 0
OQOCOCOO oOo
O oOo oOo
ODO COD Oo
O OQO O oOo
ODO oOo
ODO O O
ODO oOo &O
ODO O
.O0O0O0000> 0 0»
O O OD O OJOOQODO0O0O0O00 GO OoO OOO&Od O
O O &QOD O
TRENDSETTER S.L. Whole "000"DKK FB7
Ka
Notes on the annual accounts 1999 1999
Derivatives Total
By remaining time to redemption Nominal Net market
value value
Foreign-exchange contracts
Forward contracis / futures, bought…....….sssseseeserrrereeerserssrnrer
Forward contracits / futures, sold……......u..ssceseeerereerreseeresrnrerree
Options, acquired 2….u.u.u.dssssererrerererereree rese ressnee renses eren esse ne senge
Options, issued ……MG… sms sseneseresreereserssnes regere re terne en ene seere nerne nn rn rrnnes
nm
<=
o
D
ø
oOo oOo oo
Interest-rate contracts
(7 Forward contracts / futures, bought…….u..u.ssnssesreseerereerreserenerere
>. Forward contracts / futures, sold….W.X...u.d.semseesresessesenersenenneesrsne
Forward Rate Agreements, bought …((.W.….W.….ssssnssseerereseserererrererere
Forward Rate Agreements, sold …….W.u...sssssesessrereseresesrrrrenernenenese
Options, acquired …..u.u..dssssessesseerreensrrnssnernnr renerne ene ne nn enes neknng
Options, issued ….W.u.d.vdsevevseresereernssnesne even ven rnn rende renee renser nr res
OOQOO0OO0OO0O oOo
Equity contracts
Forward contracts / futures, bought….....sssesereeresenerersenesseneer
Forward contracts / futures, sold.….......….sscescesrrersersresreensneneneee
Options, acquired Å1(.Wu.W.W…..ssscesseserresesrrrs eres rerer kernen renne ner ennen enn enge
ODO oD oOo
Options, issued ….W.…..ussesesereerserrrrseernrrenn erne reenne ne ene ener reven rese
Commodity contracts
Forward contracts / futures, bought…......….….u.ssssneeveeereerereersrenee
Forward contracts / futures, sold……........sssenereserrssrerrerrenenernesrreesnee
Options, acquired 1M(.W.….M…..ssssessrseesererreessersrneereesserrrneenne renen nnenee
OOd oOo
Options, issued M1….….sssssceseeererreerre renerne nn nn ener teen ener resnee
Other derived contracts………...sssssseveureerserrereerenererreensen serene ener 0
Total net market value…..u..u..vsssnscescrrsersrrrsrnerese engen ene sn seng enesrnnee
ODO od oOo OO0O0OO0O 0 oo ODO &OOo
O OD oOo
TRENDSETTER S.L.
Notes on the annual accounts 1999
Whole "000"DKK FB8
1999
Derivatives
Market value
Pos. Neg.
Average
market value
Pos. Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Interest-rate contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Forward Rate Agreements, bought .…
Forward Rate Agreements, sold .…—.].
Equity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired ….....Msseserrerersererrsee
Options, issued …....…..ussscsscesreeeeserersere
Commodity contracts
Forward contracts / futures, bought.…
Forward contracts / futures, sold...
Options, acquired ….....sensceeeeverersere
Options, issued …….…..ssereerreserverererreree
ODO oOo OQOG0GOO0O0O oOo O&OSO DO &Oo
O O O Oo
OQOOO& oOo O O O OD O
QJOD oOo oOo
ODO &QO oo
OVQOODOO0O GO &Oo QOJOIO oo
O O oo
O GO Go oOo
OÆQODO0dJ0O0&O Oo OQDODOOO oOo
Odd O &Qo
OOd oOo
TRENDSETTER S.L. Whole "000"DKK FBY
Notes on the annual accounts 1999 1999
Derivatives Marked value of
non-guaranteed
contracts
Pos. Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.… 0 0
Forward contracts / futures, sold... 0 Q
SWaAPS.ssusecererseessesrreseerrsreen reen renees renee 0 0
Options, acquired …..u.ussreseeerreesnsrenee O 0
Options, issued MGM. .smccceeecesereererereneseres 0 Q
Interest-rate contracts
Forward contracts / futures, bought.… 0 0
Forward contracts / futures, sold... 0 0
Forward Rate Agreements, bought .… 0 0
Forward Rate Agreementis, sold …Å(.[|.[|.[1]. 0 0
SWaAPS.…G.…sseseeeeseereesrsrrstereneessereserser erne 0 0
Options, acquired …….W.G...ssssesreerresserses 0 0
Options, issued .MGMG….Gu vs sncsseseresessserneersnnere 0 0
Equity contracts
Forward contracts / futures, bought.… Q 0
Forward contracts / futures, sold... Q 0
Options, acquired …(..G...ssncs ere ervessereeer 0 0
Options, issued (.ssssesereeeerreerererrrerere 0 0
Commodity contracts.
Forward contracts / futures, bought.… 0 (
Forward contracts / futures, sold... 0 0
Options, acquired ….…..ssencerererreseressere 0 0
Options, issued …….G.G..G...sscsseerrsseenerrsneeree Q 0
Other derived contracts……........sssserrre 0 0
TotalG…Gu.sssenveseeesesesrssseseseeresenerrser en trrnnee 0 Q
Total after netting .…......…..ssscnsseesrnen 0
Outstanding sport transactions Nominal Market value Net market
value Pos. | Neg. value
Foreign-exchange transact. purchase 0 Q Q 0
Foreign-exchange transactions, sale. 0 0 0 0
Interest-rate transactions, purchase … 0 0 0 0
Interest-rate transactions, sale …—.[.[|1|.|.[.][. 0 0 0 0
Equity transactions, purchase .….[.. 0 0 Q 0
Equity transactions, sale... 0 0 0 0
Other transactions, purchase ….[.[.[.. 0 0 0 0
Other transactions, sale... 0 0 0 0
Total 0 0 0 0
TRENDSETTER S.L. Whole "000"DKK FB 10
EN
Notes on the annual accounts 1999 1999 1998
Credit risks Advances + Advances +
guarantees guarantees
Advances and guarantees according to as % atthe as % at the
sesctors and branches end of year end of year
1... Public authorities…..u..dsseversereereeresesenneenssnsene nes eee n senere engene - -
2... Industries:.…...sssssserserrreree vennen eneret reen e renen ener sense k ennen ener - -
2.1. Agriculture, hunting and forestry ….....sssssssneneeeenererrenrarseree - -
2.2. Fisheries…..u..dsserserrsrresesesersensersn ere ren ene ne nesker enn reen renee snene - -
2.3. Manufacturing companies, extractive industries
electricity, gas, water and heating plants…..….G..u….u.severeseererese - -
2,4. Building and construction companies ….u.u.u..dssereserrererrvrrsnse - -
2.5. Trade, catering and hotel businesses…..u.u..sseseeerseereeesseeneee - -
2.6 Transport, mail and telphone…...u.u.dvdcsereeeerereeresenerssnnereseernene - -
2.7. Credit and financial institutions and
insurance agencies…..…..G.u.udsssveeesereetrneesersene sens en sener nere enes nerne - -
2.8. Administation and sale of real estate,
business service…….u..sssccssererereeerereseneserseresnne renen nerne nens erne - -
2.9 Others…...….u.v.ccdssereereseresnerere renen ne nnn ene renees ee never ne renerne - -
Total…..G..ssssssseeeeversserrssensre nen nar seeren nens n ne renerne enes erne nd ere ren - -
3... Private…....u..u..dssereeesererersserereennereere renerne renerne ns nerne nennne - -
1-3. Total….u..sesseenerereererrrert esserne vre rkn rn entreen es enes n senere nes nn sener rene - -
Credit risk on derivatives
Positive market value Counter-party including risk weighting'
(after counter-party risk) 0% 20 % 100 %
Positive market value after n 0 0 0
Please see the order Danish Financial Supervisory Authority S27 (3) and S12, for a list of
counter parties within the 3 risk categories.
Subordinated assets Associated Affiliated Other
Undertakings Undertakings Undertakings
Subordinated assets……..[.U[.[.[. 0 0 0
Accumulated provisions 1999 1998
Provisions at the end of the year on advances and guarantees ….. 0 0
Provisions at the end of the year on credit institutions and other
items involving a credit risk …..….G.….sssssresereseeeeerrres ersten ere renerne nnren Q 0
Total accumulated pProvsions …(...ssesseseseenerere eneret vennerne eres renen ens nsee 0 0
Accumulated provisions on advances and guarantees as a
percentage of advances and guarantees at the end of the year 0,0 0,0
Total non-performing assets at year end 1(….(..W.W.W.u.u.dcdsssvererrereeresre renee 0 Q
TRENDSETTER S.L. Whole "000"DKK FB 11
Notes on the annual accounts 1999 1999 1998
Market risks
CURRENCY EXPOSURE
Total assets in forreign Currencies….u.u.u..nddsssssseverrerenereseassges ren srenans serene ene 5.266 4.907
Total liabilities in forreign Currencies…….u.u.u.ssseceseeserrsrrsererrsreser es rserenenrennnee 5.266 4.907
Currency exposure: 1a.susssseseeesesererereesereersereeererner nerne -
Currency exposure 1 as a percentage of core capital after deduction….. -
Currency exposure Z.sssssuseereeeereereresereererereeerenererer erne nr -
Currency exposure 2 as a percentage of core capital after deduction….…. -
INTEREST-RATE EXPOSURE
Total interest-rate exposure on debt instruments …....W.u.u.uusscsssrrrereresessnrsee -
Interest rate exposure by currency involving largest interest-
rate exposure:
1. DKK <0c00coc >>. seveverresesssrrererereerrrrsernnnsereesrgrrnnnene -
2. XXX —00000o— neveerrererrsasereressnneererenennsneeessnssennnnee -
3. XXX 000000 neerrersenrssenerersnnsssensesernenesrennenevneen -
4. XXX 0000000 eevreremereeeennennseneeresnenenerenr sen enernnee -
6. XXX —0000soo— sesersssnarrereneeneneeveresesesrreeeeeseverenenee -
7. Other currencies 0 aneveeeeeeerereneenenesenssene eres renen sne srnennee -
TRENDSETTER S.L. Whole "000"DKK FB 12
Notes on the annual accounts 1999 1999 1998
Assets and liabilities by residual maturity
Assets at credit institutions and central banks
1. At call ….GG… sn esseseeeerevvederennesserese rense esreger nede rnrr renerne reen en
P
O
<
øD
%
O
5
oo
ser
od
ad
mx
ø
=>
na
cc
>
—
(e]
O
sæ
(0;
Y
—,
nm
OSOSOOQOO00RDO oOo
Advances
1. At call MM.u.…..ssnceseressrsesevevegerereseennenessegeneneene ns sense sess sneen ene
2. Up to 3 months .GM.MG… ss ssenssseneessnesesersseveeessnne rense ennen rnee nens nn eee
3. Over 3 months and up to one year 1(….Mu.u.…..ssssssseeeeererernnennees
4. Over one year and up to 5 years …M.….W.…..sscssrssserreerrtserrsnes rer
5. Over 5 years MG. smesvesesserseseerveseesrnssrsesenneesnne sneen de reereeeree
DBDDQDJQOJOGCG O O
Debt to credit institutions and central banks
1. At call .……Gu.GW. ssscsceveeevensevrsesssrenseereesnnseerenessenerennd es rese nn ea rdereseeee
2. Up to 3 months 2M….X..u...ssenesseeersservsees reen rensenensennenen ses esee ene evenee
3. Over 3 months and up to one year …M(.….sssccserererterrsernrene
4. Over one year and up to 5 years MM. .smsssenessereseseresereenenerrsrer
5, Over 5 years Mm ssssssereresesessesee renee retrn ere eneses sent ssrern ke rrrnrnee
ODOODOCODOS0O0O0O oOo
Deposits
1. At call GM. ssssesssereserenserenese reen rrns sneen nerne renerne nessensnknnee
2. Up to 3 months M(.u….…..ssssssecsersrrs reserveres serene een ses erne sener nere
3. Over 3 months and up to one year …..W.u.u.u..ddssenseeessersserrree
4. Over one year and up to 5 years M….…sssseserseressreserrseneesnnere
5. Over 5 years MG Mm mecevervessrresesesee renees pre sneen ennen esse en esenne eres renee
OOGO0O00OG0O oo
Issued bons, etc.
1. At call ….W.W…..sssecceeresrererrrreterrern seet rret renerne renere ternene
2. Up to 3 months ……..u.u..ssseveseseresreereerestrsnesenenge nr srss te nn enn esnene
3. Over 3 months and up to one year (….….…G….ssssceerseeserererrreseee
4. Over one year and up to 5 years ….u.…G..sscensereerrreeereee ne eresnne
5. Over 5 years .…….semseeveererereseerves erne rkse nerne serene rer rre enets n tree
OQOQOOO0OGo &Oo
ODODOC)GGOO OOJO0O000 0 OQ90O0O0O0O oOo OQOQOQOGOODO oOo
OODOOQODO&O O
an,
>
No
TRENDSETTER S.L. Whole "000"DKK FB 13
Notes on the annual accounts 1999
Re: Profit and loss account 1999 1998
1. Interest receivable/premium/discount on forward
transactions of:
Claims on credit institutions and central banks…….........…..
Loans and advances…Å….u.sseneeveesrresseseevererssnnve ennen nens nnrese
Total derivatives…….X.u.u.senveseeereeeeeeresnvsssetrererensn dernes ene engene
of which
Foreign-exchange contracts …Å..W.u.u..ssevseseseeserrsenreerrerrner
Interest rate contracts 1(.W.W…...sessssssrerenness ses even ssrerenseneesree
Equity contracts MM ….ssssvcseressreerseneeeeneeserse renerne serene renerne
Commodity contracts…..G….ssesenesseeserersennseese renees renere
Other contracts 1(..….W..…..sevescesersreesesrsrensenrnee renser enssrnsene
Others (+/-) sG.smssssssseereserrssenrennrtersenenennrsesnrsnes engen ennen nerne
Total interest receivable ……..u..ssssseserrrreessesersenensereenresesenee
Of which genuine sale and repurchase transactions under
Claims on credit institutions and central banks…Å….[.[.[.[.[.[.|[|[|.|.|1.
Loans and advances……....seeseerserseesssseesveneeseerenseere evnerne
Interest payable to:
Credit institutions and central banks…..dGu.u.uvssseneereverrveerees
DepositSs…...ussssssnverereereerernnesssnsnesse sene n erne ses eder renen nen u enes
Issued bondS….u..sdsseeneveesrsveve served eee res eneste reb vere e rese r enes
Total interest payable…....u...sssesseserersserssrreseesssen ennen seser
Of which genuine sale and repurchase transactions under
Credit institutions and central banks…….G..u...svdssscesererereeverererneee
Deposits…GGu.sssssseeeeesrensersrrreegeseeske svar nsnnes enes r srt ene er nerne rssee
Dividend on:
Shares.….G…Gud.usssceverses rense serene eres nerne rense enes rens enn nr sneen nn ene
Holdings in associated undertakings, etc... ssssnsereee
Holdings in affiliated undertakings: .……C.G….GWG. sssncecseeseerererrserene
Total dividend on shares and other holdings .…............
O OO Oo
OSOSJSO0O0O000O0 oOo
O OoO
O OS0QOQ0O0O0OO O
oOo
ODO O
ODO dOD oOo
OSODO0C0o GO
O O
O Q OQOQOOCOdOOO O
OO GO oOo
Advances with fixed interest... ssenerereeerrsenrsereeesereseee
Exchange-rate adjustment of foreign CUrrency
Total other financial instruments (Derivatives)...
of which
Foreign-exchange contracts .….W….….G…..ssssceseeernereesesnsrsnn rn neneres
Interest rate contracts …(...dsseneeeenererrneressnenne sanne ease rn rener
Equity contracts …..u.u.u.ssseeneeseesesesereersreseenes renee serene strengene
Comodisty contracis….......ssssersesrserseressesesereserererernnsesenessee
Other contracts …......ussssessreserssternseresneneese nen nerer nere nnnn ennen
Total price adjustments ........ssssssereererneererserrenesereers renerne
Of which relating to pension pools …….u.u.sssercesereererereresenese
ODO od oo
JDOOOo
0
TRENDSETTER S.L. Whole "000"DKK FB 14
Notes on the annual accounts 1999
Re: Profit and loss account (continued) 1999 1998
6. Price adjustments 1) of:
1) The sub-items include price adjustment of securities, etc., forming part of the pension
pools. Adjustments are made for these price adjustments in the item pension pools
below.
OOQO0OO0O oOo
OQOOD &O Oo
CC)
TRENDSETTER S.L. Whole "000"DKK FB 15
Notes on the annual accounts 1999
Re: Profit and loss account (continued) 1999 1998
8. Staff costs and administrative expenses
Salaries and remuneration to Supervisory Board,
Board of Managers and Board of Representatives
Supervisory Board .…GMG..GWGsssersesurereverenereennrene serene senest nene 0 Q
Board of Managers……...u.ssssessrererneses ere nerve nere sernnnssnt nn ennen 0 0
Board of Representatives……....W….W..u...ssssssseressrenrrrserreerenn sn ener nens 0 0
Total sM…w.sssseeresserrreneeenes renses erne nn erne ternes n ennen rsn ne enes g res Q Q
Staff costs
Wages and salaries …M.…..sevsesereserrssee resterne erenn erne ert rne nn 0 0
Pensions s.sssscseseerereseerrre esserne te renses renere se syns enn nende nen nens nerne 0 0
Social security COStS .M…. .….sssssesseereererrene renee e nen bene s seks ne era rnnee 0 0
Total sussssssnesereveseeeseeevenes renees ersegrneg es renees erne seen ns anse means snnese Q 0
Other administrative expenses …M..W.W….X.sssseesereser reen seen renees sne neesnee 121 497
Total staff costs and administrative expenses…..u..d.ssesseererreerre 121 497
12. Price adjustments of participating interests in associated and
affiliated undertakings
Price adjustment of holdings in associated undertakings, etc… 0 0
Price adjustment of holdings in affiliated undertakings …Å.[.[.[.. 0 0
Total price adj. of participating interests in associated and
affiliated undertakings.….X.Xu..ssssenvveseneeerreere renterne renere renerne sene 0 0
15. Tax
Estimated tax on the year's income ….W.W.u..sssessessesereerrrsesresenener 0 0
Deferred tax (timing differences)…....W...u.sssenseeseeeeresansrererrsnsrrnees 0 0
Adj. of tax calculated in prior years ……...sssssscsrreesesesneserenennener 0 0
Total tax MG ..ssssssnseeeseesenesess reden senere nerne renerne nn ner rek tr kernen egene 0 0
Supervisory Board, Board of Managers and Board of Representatives
Amount of loans, charges, securities and guarantees
issued to members of the institution's. Advances, etc. Advances, etc.
Supervisory Board .…….G…. sssseneeereeereresersess sees rene enes nere renees regner 0 0
Board of Managers M.….ssescenvecerrerereesee rener renerne renen ree regeres Q 0
Board of Representatives …….....sscereserreeereeerreserreserneereneenene Q 0
Securities Securities
Supervisory Board …….…u.…u.GW…..…..ssssceeseseerreer renerne renerne tre nknernee 0 0
Board of Managers M.….….ssssnseneeserrreserees reen rrneerensrnsn ennen een enenne 0 0
Re: Auditor's Fees
Total fee to auditors elected at the Annual General Meeting
in charge of the statutory audit….W.Gu.u.u.sssserrresersrreeeneeenen rr erne ne Q 0
Of which for services other than auditing…....sssssnsssreerererrrne 0 0
Re: number of employees
Average number of employees during the financial year converted
into full-time employees (1 decimal) 0,0 0,0
TRENDSETTER S.L.
Notes on the annual accounts 1999
Re: Assets
Claims on credit institutions & central banks
Claims at notice on central banks….X.u..u.vssecenesererreernrrrrernrre
Claims on credit institutions……….W.u.u.d.sseneneeveessesenrssrers ere serr rer
Total claims on credit institutions & central banks…Å….[.[.[.[.[.[1].
Shares, etc.
Quoted on stock exchanges …..u.Wu.u.u.ssssseseeneserere renees vanerne nere
Other shares…..u.u.u.u.d.vddssssserrenereserersessnesnernsnnn engen ene enes rdner
Other holdings 2…….M….smssessesesreseseereeersesesesrrs renser Lesneeresseerrenene
Total shares, etc. 1(.…..ssevevererererrrersenerreersenes renen er nseneneresee
a) Financial current assets valued at market value
b) Difference between the purchase price of financial
current assets under a) and the higher market value
on balance sheet date 1... sseserrerereserrrerereere renerne
c) Financial current assets not valued at market value
(unquoted) M.GW…. ssssssssseeeerenssrarrereerssrernnssesre rese ener renere nere ne
d) Difference between the purchase price of financial
current assets under c) and the higher market value
on balance sheet date …..….G.W.u.ssssseserseresrerrerere renerne rene
Whole "000"DKK
1999
O O&O
ODD oOo
ODO GG oOo
FB 16
1998
O ODO O
(ækeoeRe]
TRENDSETTER S.L. Whole "000"DKK FB 17
Notes on the annual accounts 1999
Re: Assets 1999
Financial fixed assets Affiliated Associated Other
undertakings undertakings and undertakings
other significant
holdings
A. Acquisition value, beginning .….. 0 0 0
- Exchange rate adjustment of
the year …M.…G .ssssseesenesesreseressernsee 0 0 0
- Additions of the year …….[.[.[.. 0 0 0
- Disposals of the year ….[.. 0 0 0
B. Acquisition value of assets
held, end (MG... sssnceseeersrenenseserererenee 0 0 0
C. Revaluation and writedown
beginnng.…G…GudGd.sssseseseserseerer serene re rereee 0 0 0
a) Exchange rate adjustment of
the year MM... smsesecerserereseres (+/-) 0 0 0
b) Profit and loss .……......... (+/-) 0 0 0
c) Dividend …G…G.G…. ssesesesseeeresssssrrreee 0 0 0
d) Difference upon acquisition…... 0 0 0
e) Other capital movements…..[.]. 0 0 0
f) Revaluation and.
writedown of the year ….[.[. 0 0 0
g) Revaluation and
writedown reversed…Å….[.… 0 0 0
D. Revaluation and writedown of
assets held, end …..u..dccsecerreeee 0 0
E. Holdings in parent companies... 0 0 0
F.. Portfolio booked, end
(B+D+ E) Guweevereresreresesrereseseeee 0 0 0
of which credit institutions …Å—... 0 0 0
G. Portfolio booked, beginning …. 0 0 0
of which credit institutions …Å.. 0 0 0
TRENDSETTER S.L. Whole "000"DKK FB 18
Notes on the annual accounts 1999
Re: Assets 1999
Intangible assets Goodwill Other intangible Total
A. Acquisition value, beginning …..
- Exchange rate adjustment of
the year MG.ssssssceesssrrsnernrererees
- Additions of the year …Å.[.[.[.[..
- Disposals of the year ….[..
B. Acquisition value of assets
held, end .t…MG.G… uw ssssenererssereresseseerersnee
C. Depreciation and writed. begining
- Exchange rate adjustment of
- Depreciation of the year .…..
- Writedown of the year …Å….[.[.].
- Depreciation and writedown
reversed
D. Depreciation and writed. held, end
the year tM.G…G.s sseseseeerreerreereseereeree
E. Portofolio booked, end
Portfolio booked, beginning .…...
Expenses of the year
O JO OBOQO ODO O &
ODO O OoO
assets
O oOo
O OBO GO
ODO ODO
o OOQ O O O
DO O &O
TRENDSETTER S.L. Whole "000"DKK FB 19
Notes on the annual accounts 1999
Re: Assets 1999
Tangible assets Land and Machinery, Total
buildings equipment, etc.
A. Acquisition value, beginning …—.. 5.563 0 5.563
- Exchange rate adjustment of
the year M.M. ssssccenereesesesesersrrsenes 713 Q 713
- Additions of the year ……Å.….. 0 0 0
- Disposals of the year …….. 0 0 0
B. Acquisition value of assets
held, end Å….G…..G..….sssenerrereseeereresrnsenrer 6.276 0 6.276
C. Property revaluation begining ..…. 0 0
- Exchange rate adjustment of
the year sssesesereerereseersreersetrenee 0 0
- Revaluation of the year —(Å.(.|.[|.[.[.[.[.… 0 0
- Revaluat. of the year reversed 0 0
D. Property revaluation held, end .…… 0 0
E. Depreciation and writedown
beginnng.…..G…..esenerererrrrersrsnssene renser 656 0 656
- Exchange rate adjustment of
the year MGM.u.…...ssseneneseesersrererenesenen 99 0 99
- Depreciations of the year... 37 Q 37
- Writedown of the year ….[.[.. 218 0 218
- Depreciations and
Writedown reversed……........ 0 0 0
F. Depreciation and writedown of
assets held, end ….….….ssssssreseseseserere 1.010 0 1.010
G. Portfolio booked, end ..............….. 5.266 0 5.266
Portofolio booked, beginning... 4.907 0 4.907
Recent tax assessment of real property 5.266
Immediate amortizations on machinery
and equipment etc. have been made
during the financial year totalling .…..[.[.[.[1.[.[.].. 0 0
Lard
TRENDSETTER S.L.
Notes on the annual accounts 1999
Re: Liabilities
Debt to credit institutions & central! banks
Debt to central banks….u.u.u.dsvenrererrserrrerrre rener renen
Total Debt to credit institutions & central banks…
Deposits
Deposits on demand ……....u.u.u..dcsensereereereeeeneen ser ernee
Deposits at notice .…..W.u.u..sssssseverresre renees erne enes
Time deposits 2….….W….G.ssssesererereeneenrnensn see rren str ss rser rene
Special categories of deposits …..cs.sseseenee
Total deposits .......…..uMsssnseneerereerreeersrrtrensernen seeren
Provisions for commitments
Provisions for pension commitments…...........
Tax provision for the year…......u.u..sseecesererersrereeeee
Provisions for other commitments
Total provisions for commitments ss
Whole "000"DKK
1999
ODOG &O O O
Oddo oOo
FB 20
1998
ODO eD oOo O OD
ODO oOo
TRENDSETTER S.L.
Notes on the annual accounts 1999
Genuine sale and repurchase transactions and reverse sale and
repurchase transactions (Repos/Reverse repos)
Of the below assets genuine sale and repurchase transactions
account for:
Claims on credit institutions & central banks…….......udcseeerere
Loan and advances ….…..ssnvererrereeee erne retn re ener rener rene enes
Of the below liabilities genuine sale and repurchase transactions
account for:
Debt to credit institutions & central banks…….u..ssecerrrerernere
Deposits M.W…|…|.…..ssseseserseserrsere nere nes rerer renerne renerne rr renere rr rerre
Assets included in genuine sale and repurchase transactions:
Assets
5... Bonds…....scesererrserrerenern enes renterne erne renerne renses rer en tree
6. Shares, etc. M….…ssssscerceresesereererrerer er rrernrrs ene ne er snrsnk en rnenee
7.… Holdings in associated undertakings, etc. 1...
8... Holdings in affiliated undertakings…..dsssscnserrnereenner
10. Tangible assets ……1.….u.sssseveeeerereevererrsere reen eneret rr rn nn
Whole "000"DKK
1999
…
…
ODO ODO oOo
FB 21
1998
OQOQOQOOQO OIO oOo
TRENDSETTER S.L. Whole "000"DKK
Notes on the annual accounts 1999 1999
Balances with affiliated and associated undertakings, etc in the group
Affiliated
Asset item. enterprises
—
O
w
5
n
da)
3
ao
9
a
<
wø
5
Q
(D
n
ODO o oOo
X Liability item.
1. Debt to credit institutions .....2.sscsccsseeee
2. Deposits MGw.ssssssscerseesrseneerersensereense rense ner rser ere rernee
3. Issued bonds….....sssseereeeseeerseneerss reen rr rersr sener en ne
Total liability items …...u.u.ssssssersserseverenresree renerne renen
O oOo oOo
Associated
enterprises:and
other significant"
Asset item. holdings'
CE 3... Claims on credit institutions and central banks…..
4. Loans and advances ….…...dceverrereeeserererrssensnenerrereee
o
[59
o
=
Aa
ø
O &QOOoO oOo
Liability item.
1. Debt to credit institutions …...Xu.Xu.u.u.sdssessresrrrerrereee
2. Deposits ……G.G.….G..sssssscssereserereree renees nerne regere nn enes rene
3. Issued DONÅS 22 ssssseeeveerereeerere renerne rener serne
Total liability items …….......dsseveererrrereren te reresersnnenene
O Odo oo
FB 22
1998
Affiliated
enterprises
JOJOOO oOo
O OG O
Associated
enterprises and
other significant
holdings
O'O oOo oOo
ODO O
This financial statement has been prepared by the parent company, Jyske
Bank A/S, in compliance with the Danish accounting principles for credit
institutions, etc.
Silkeborg, 21 February 2000
The board of Management:
s Dam Visti Nielsen
/Jens Borum
kær"
SED
JB (NOMINEES) LTD.
JYSKE BANK (NOMINEES) LTD. Whole "000 DKK FB 1
LED
NE Profit and loss account for the financial year 1999 1999 1998
1... Interest receivable M.…..sssssscssrverseeeeeeerersreeneeerereeseren ternene sen knnee 0
2. Interest payable….u.u.ssscesssreessersserrsterr settes ren sneen rese renen arsen ens n nerne Q
A.… Net income from interest ….W...uGsscneseserrsesersensesenesasenenerreessnnnnen renser rsnnee Q
3... Dividend on shares, etc., and other holdings 2... ssccscesrsreresserernee 0
4... Charges and commissions receivable, (....ssscssecsersrsrersererrseenenseree 0
5, Charges and commissions payable, 1(….W.u..sssescsrseresesesenerereeseserennene 0
B. Net income from interest and charges .…….X.X..sssescserreesesererreeereene renees 0
6. Market revaluation….........sssesrrerersevererseserrssenreseserensreetennererenennsssngennnen 0
FC 7 Other ordinary income …….u.sssssesererereesrerererrenererrerer ternene ssresnss erne 0
— 8. Total staff costs, etc. and administrative expenses …..G...d.ssssrererserseees 0
9. Depreciation of & write-downs on intangible and tangible assets .…. 0
10. Other ordinary charges …..W.uu..sssssserserserserenrensreee sneen reneste ennnnree 0
11... Depn. and provisions for loss on bad debts M1(….W.u...sssccsesererrererserererser 0
12. Price adjustments of participating interests in
associated and affiliated enterprises …….u.u.u..dsssssseseesrensreeeneeennnnnrrnennnee Q
C..: Profit/loss on ordinary activities .…...W.u.W.u.u..dsscvesseerreseresssesenserrserenssenensene 0
13... Extraordinary income 1. .sssecereceereeserreresenersersesnsrernrn renees renerne 0
14... Extraordinary charges GM. sMsssscereeersrseseeseeerersssssenneregke rense rendan reen eres nes 0
15. Tax sesscseeerevvstenesseerrenesesssesenereserenersenserse genererer renerne renen senderen e se seng 0
D. Profit/loss for the financial year 2….….W….Wu.u.u.vssecsssreeseersnnerrn seeren en res neseesennee 0
Distribution of profits:
1... Profit/loss for the financial year 1….u.uu.X..sssesenssenessereresenerereernernnennengene 0
2... Brought forward from prior years …......sssseureerrserersrerersssernere gense 0
A. Total amount available for distribution …..u..dssssssesrresssesessersereeereeenene O
3. Dividends .…..ssereeresereerserereeererrrereneree sneen srrsare te nnn kernens n ennen sense 0
4... Various other pUrpOosesS MG. ssssccsreeeerrereererrrereesresrrs reen erne sne ner renere renee 0
5... Appropriation to Own fUuNdS 2222 cereeerrseersrrserrerersrr ter tessrrr rer renter 0
B. Total distribution of the amount available …...W.Wu.u.u.sscsseererrrrrrrerrrreee Q
Cu
JYSKE BANK (NOMINEES) LTD. Whole 7000 DKK FB 2
>
Rv Balance sheet as at the end of the financial year 1999 1999 1998
ASSETS
1... Cash in hand and claims at call on central banks 2. 0
2. Treasury bills and other bills eligible for refinancing with
central banks 0 0
3... Claims on credit institutions and central banks …...ssssncerne 1 1
4... Loans and advances ÅM.….sssscessereeeerernsesessrssrensenesnensennsesesnesene 0 0
5, Bonds….W....sescceeseevvrssents sneen se srsses ere e sneen eter en sr n eres e nen rn ne 0 Q
6. Shares, etc. st. vsssessserrrerereveserseeerensene renerne rnsss ennen sneen renee 0 0
7... Holdings in associated enterprises, etc. 1…..W.uu.u.dscseseerrrserennes 0 0
8. Holdings in affiliated enterprises…....….uu.u.scevsesrrerseresrerseenneneee 0 0
9. Intangible assets ….W….…..ssssssseeresrrreerrrneerererrernnne rr nnnnee 0 0
10. Tangible assets MM.u...ssessseresesereseerseresereterserser renser tsar 0 0
(" 41.. Own holdings susceceseeseerersrrrrernenerrerrnnrerrerrerrenenenererennnEr 0 0
"kr 42. Other assets M….….ssssscseesereereseresrereester retterne erkrrnnnee 0 0
13. Prepayments and accrued income …….W.…..sssssserereerneeeresernrnnee 0 0
Total assets …..W.sssesseseeerereseresreeneseserr re ssnnerner enten sekserne renerne n es 1 1
LIABILITIES
1... Debt to credit institutions and central banks …....ssscecersre. 0 0
2. Deposits Mm. ssssscssereserseresernserenesereensanernerereerener renses renen errnree 0 0
3. Issued bonds... ssssseserereeererseeerrreereneresn sneen nee serne nerne renser 0 0
4. Other liabilities…..u.u...ssessesceveeeerrseeesssenereeresnnrersen renere nen 0 0
5... Accruals and deferred income …..sssscsesreserereserererersreseseeneene 0 0
6. Provisions for liabilities and charges,….u.usscsererreerreeesrreerrerere 0 0
7.… Subordinated capital investments .…..Wu.u..sssscseseeesreseereerresereee 0 0
8... Own funds
8.1 Share capital/cooperative capital/guarantee capital ….. 1 1
8.2 Share premium account .…….….ssssserreeeseererrreer renerne 0 0
8,3 Reserves sM.ssssccereeeresereenssenvenereneeernreeeneeeeennneeeereenresennnn denne 0 0
8.4 Revaluation reserves MG. ssccsrsseerrersesereenerneerereeernkenns senere Q 0
8.5 Brought forward from prior years …..useserresersenererrseeneer 0 0
8.6 Carried forward from profit/loss for the year 1... 0 0
Total own funds ..…..ssssevesreeseerserereese sense rssese nen rrsne nerne ennen nen 1 1
Total liabilities …….X.uu.u.undserssseereeeesererensseresenernnenesserrensesteens serene nerne 1 1
OFF-BALANCE-SHEET ITEMS
1... Guarantees, etc. M.G. sssscesssererrerereesererreeeer erne rensede rn 0
2... Other commitments ……..dsscesecerererereerensereerereensnne renees nens Q
Total off-balance-sheet items M1(.]W].W…...sssersserrsererseserssestesersrerrrarnrengeee 0
== Derivatives are specificed in the notesFB5 - FBY
W re
dd
i)
fé:
(
JYSKE BANK (NOMINEES) LTD. Whole "000 DKK FB3
Notes on the annual accounts 1999 1999
Own funds
Capital movements Opning Additional Capital Addition in
balance capital / write down — connection
bonus shares with merger
Share/cooperative/guarantee capital . 1 0 0 0
Share premium account .…….….….ssscnrerserses 0 0 0 0
Undistributable savings bank reserve. 0 0 0 0
Reserves for net write-ups according
to the equity method …Å...ssccsccesserseer 0 0 0 0
Other reserves .…….W…G.sssencereeerererererereensesee 0 0 0 0
Revaluation reserves GMGG.ssscrerescereseeerere 0 0 0 0
Brought forward from prior years ….... 0 0 0 0
Total own funds Å….….sseneessrrseresessnenener 1 0 0 0
Closeing
Additions Disposal Balance
Share/cooperative/guarantee capital . 0 0 1
Share premium account 1... 0 0
Undistributable savings bank reserve. 0 0 0
Reserves for net write-ups according
to the equity method 2(M(….….…..Gssssccessssreseres 0 0 0
Other reserves G…M.G…sssscccerereerreseserresernenee 0 Q 0
Revaluation reserves GM. ..….scccerereresererese 0 0 0
Brought forward from prior years .…. 0 0 0
Total own funds Å….…"|…W.ssssccrrererereseereseeere 0 0 1
SOLVENCY RATIO CALCULATION 1)
1. Core capital after deductions 1….Wu.u.u.sssssesererreneserere renerne nennnerennernene -
2. Surbordinated loan capital and short-term supplementary capital 2... -
3. Weighted assets not included in the trading portfolio…............sscsssrerersererenses -
4. Weighted assets with market risks, etc…....W.u.u..ssscserererrseersesrerrer sner rnenennnnennere -
5. Total weighted assets ( items 3+4) MGM.u…"….…. ssssssseeserssrnee nerne
6. Core capital after deductions as % of total weighted assets .......…...s.ssssssee
7. Solvency ratio pursuant to BSL S 21 (1)MdMuMG…ussecceesesererrerrerernernnee (1 decimal) …
1) Calculated according to the order of the Danish Financial Supervisory Authority of 19 June
1977 on the capital adequacy requirements of banks and certain financial institutions.
6 fugt
( 2
gf ae
JYSKE BANK (NOMINEES) LTD.
Notes on the annual accounts 1999
Guarantees and other commitments
Off-balance-sheet items, item 1
Guarantees, etc.
1... Guarantees
1.1. Financial guarantees M.….M….ssssseserrreserereresesesneeeennssenesserneennnne
1.2. Other guarantees…..Gu.u..dsessessreeseesereeensesnesen sense nn esse ene esserne
1.3. Acceptances and endorsements, etc…..u.Gu...senseereserssrseeessesesere
Total guarantees, etc. ….M….….sssseseseeereeresrereen rene nss ennen ses senere never eee ns ene er
Off-balance-sheet items, item 2
Other commitments
2.1. Irrevocable standby letters of credit .…........sssencecerresesersserere
2.2 Sales with an option to repurchase M(.ssssneserseevressseneeseneeeene
23 Other commitments ….....Mu.ssssencesesrresssnsenreesevsesrsnnennneesseneseneeee
Total other commitments …....sessereesseseersenserenreeseneseneeesennneeenennee
Whole "000 DKK
1999
O ODO Oo
O ODO oOo
FB 4
1998
O Q OoO Oo
O ODD 0 O
JYSKE BANK (NOMINEES) LTD. Whole 7000 DKK FB5
>. Notes on the annual accounts 1999 1999
Derivatives Up to 3 months 3 months to 1 year
By remaining time to redemption Nominal Net market Nominal Net market
value value value value
Foreign-exchange contracts
Forward contracts / futures, bought... 0 0 0 0
Forward contracts / futures, sold…... 0 0 0 0
SWaAPS.sssseeerereesersrsrerse rer rsnen ennen s renee 0 0 0 0
Options, acquired M….…...ssesesreresererrneree 0 0 0 0
Options, issued MG. sd ssssercereereeerrererereer 0 0 0 0
Interest-rate contracts
Forward contracts / futures, bought.… Q 0 0 0
Forward contracts / futures, sold... Q 0 0 0
Forward Rate Agreements, bought .… 0 0 0 0
Forward Rate Agreements, sold …Å(.|.[.]. Q 0 0 0
SWapSs.sssscerereresereerssessarerennrsse nens snner 0 0 0 0
Options, acquired (M.G. sscccscsreserersrrerere 0 0 0 0
Options, issued GM..u.ssssesersresesrsreseserererer Q 0 0 O
Equity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold…..... 0 0 0 0
Options, acquired 1. ..sssscssesererrerrereeee 0 0 0 0
Options, issued GM .uvssssseseeserererererennseeer 0 0 0 0
Commodity contracts
Forward contracts / futures, bought... 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired MM. ssssccersrreeseesrererere 0 0 0 0
Options, issued MG. ssceerserererereresereeere 0 0 0 0
Other derived contracts…...ssssrrere 0 0 0 0
7)
Man
(
MUR
JYSKE BANK (NOMINEES) LTD.
Notes on the annual accounts 1999
Whole "000 DKK
FB 6
1999
Derivatives 1 to 5 years Exceeding 5 years
By remaining time to redemption Nominal Net market Nominal Net market
value value value value
Foreign-exchange contracts
Forward contracts / futures, bought. 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
SWapS..ssssceeeserserseerresee rense resneresensnenen Q 0 0 0
Options, acquired MG. .ssccccscesesersererrees 0 0 0 0
Options, issued M1…]Y|W"….M….sssssenesereseeesresneer 0 0 0 0
Interest-rate contracts |
Forward contracts / futures, bought. 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Forward Rate Agreements, bought... 0 0 0 0
Forward Rate Agreements, sold ….… 0 0 0 0
SWaAPpPSesseeecerevereesrreserrerensenerenerrsereren ger 0 Q 0 Q
Options, acquired 1... seccsesersersreeeer 0 0 0 0
Options, issued ,MG.GWwG ssscscecerereesererereeee 0 0 0 0
Equity contracts
Forward contracts / futures, bought. 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired ….…...sssescsereerersereee 0 Q 0 0
Options, issued …M..….….sescesererereerereerees 0 0 0 0
Commodity contracts
Forward contracts / futures, bought. 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired M….W.….….ssssscseesreeerersere 0 0 0 0
Options, issued MG .ssvssceresesrenssesseneneese 0 0 0 0
Other derived contracts…....usdssceceeee 0 0 0 0
JYSKE BANK (NOMINEES) LTD. Whole "000 DKK FB7
æ>
>. Notes on the annual accounts 1999 1999
Derivatives Total
By remaining time to redemption Nominal Net market
value value
Føreign-exchange contracts
Forward contracts / futures, bought……....ussseneeeererserreerereerser 0
Forward contracts / futures, sold…..C..u.u.sssscnsssrserserereneneneereeenene 0
SWaApPS.sssssseeceveeerereesseresrre reen erne nesten sees eres n eres ennen es een tere rer nes 0
Options, acquired M1(.(]W"….…..sssssssseseersenssssensnersenesennes seernes renerne 0
Options, issued ….M….M….sssceseerererrerssseseesersens ener senere nrnnke narrer renee 0
Interest-rate contracts
Forward contracts / futures, bought…...u.sssseseneereersennesevesenenser
Forward contracts / futures, sold….u.n.nssseersreseseseesneeersesseener
Forward Rate Agreements, bought ….W.u.u..ssssceseerersersseessrssnenee
Forward Rate-Agreements, sold 1... beverreeersererr rener
Options, acquired …….W.W.u..ssseeeeseeessereeeeersensessense rensende sense nerne
Options, issued Å(…M.W….…W.G….…..ssseceseersssessenerss esse enens ener rre rn erne rese re sener
OQOQOOSOSO0OO0O oo
Equity contracts
Forward contracts / futures, bought.….G..u..dcenerssrseserersresereserseee
Forward contracts / futures, sold…..u.ddsesesserereeneevernersseenseereen
Options, acquired ((.W….X….….. ssscesessesesessersersere renerne rens enesses renerne
Options, issued M(1.(|.W…|.G…...sssssceseeeereesereseneerensse er sene reen enssre sne krnr asernes
(eee Re]
Commodity contracts
Forward contracis / futures, bought….W.…..ssssseveresesrrsereveesne
Forward contracts / futures, sold......udssseneeseverveeesensereresesernsnnnee
Options, acquired …Å(.W"W….M…..sesssseeressereerenseereret etern skeerne nens annen
Options, issued Gu. sssssceveresersereeneeseneeeern ener kerner sr nere sner neres
O OG &O
Other derived contracts……..…...ssencereevereressessersrreevesneessssnerennnnnene 0
Total net market value….W..ssssensrsereeeeereevsevernensenernesnenesnsnnenee
Nous
JBJSO0OQOOG0O 0 oOo ODD Do oOo
ODO Go oOo
QO OO&O O
JYSKE BANK (NOMINEES) LTD. Whole 7000 DKK FB8
>. Notes on the annual accounts 1999 1999
Derivatives Market value Average
market value
Pos. Neg. Pos. Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
SWapSsS.G..sssseceeeeevererseseneesnenene renere n sengen 0 0 0 0
Options, acquired ÅM..M.…G.G…..sscccsrsesererererreees 0 0 0 0
Options, issued 2. .….sccceereseserssereresener 0 0 0 0
Interest-rate contracts
Forward contracts / futures, bought... 0 0 0 0
Forward contracts / futures, sold….... 0 0 0 0
Forward Rate Agreements, bought .… 0 0 0 0
Forward Rate Agreements, sold .….[.]. 0 0 0 0
SWapS.sssenereserserereersrseseesss renser essere seees 0 0 Q 0
Options, acquired …....u.seeserereeserseeesese 0 0 0 0
Options, issued …..ssseenrererrrsessrnrner 0 0 0 0
Equity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired 2M…..…G. sssseseresersssrsreresee 0 0 0 0
Options, issued …(…...….ssesecseeresererresrerere 0 0 0 0
Commodity contracts
Forward contracts / futures, bought.… 0 0 0 0
Forward contracts / futures, sold... 0 0 0 0
Options, acquired …….….W…..udssssereeesrerersennee 0 0 0 0
Options, issued 2M….….….scsssveerseresssererenese 0 0 0 0
Other derived contraCts……......sssccce. 0 0 0
Total.……..u..sseneeerenerrensernsenesenenenensersse unsere 0 0 0
C.
JYSKE BANK (NOMINEES) LTD. Whole 7000 DKK FB9Y
Noe Notes on the annual accounts 1999 1999
Derivatives Marked value of
non-guaranteed
contracts
Pos. Neg.
Foreign-exchange contracts
Forward contracts / futures, bought.… 0 0
Forward contracts / futures, sold... 0 Q
SWaAPS…seseceesersereeersesseresereerersgee renee sssgnne 0 0
Options, acquired 2…….…..ssssessserereeerereesee 0 0
Options, issued 1M.(.W|"|....ssssssssrereeseresseere 0 0
Interest-rate contracts
Forward contracts / futures, bought.… 0 0
&€ Forward contracis / futures, sold... 0 0
—— Forward Rate Agreements, bought .… 0 0
Forward Rate Agreements, sold .….]. 0 0
SWAPS.sesceresseeereeseseerenerr ener sen essensen en 0 0
Options, acquired 1….…..u.sscsescererrrerreree 0 0
Options, issued ÅGM.GW….G.…..ssseveceresrreressereseere 0 0
Equity contracts
Forward contracts / futures, bought.… 0 0
Forward contracts / futures, sold... 0 0
Options, acquired M1.W.…"..ssscrssmaeererenereneee 0 0
Options, issued …M…Gu…W vssccsreesrerreerseserserser 0 0
Commadity contracts
Forward contracts / futures, bought.… 0 0
Forward contracts / futures, sold... 0 0
Options, acquired ….….Xu.u.u.uscccceerressrererees 0 0
Options, issued GG.G.duvdssssecsseeeererrererereneee 0 0
Other derived contracts….W.u...ssscenceee 0 0
TotalG…GGduudssssseeeeesseerrareensereeresereesersevernnee 0 0
Total after netting …..ssssceceserssesesesee 0
Outstanding sport transactions Nominal Market value Net market
value Pos. | Neg. value
Foreign-exchange transact. purchase 0 0 0 0
Foreign-exchange transactions, sale. 0 0 0 0
Interest-rate transactions, purchase … Q 0 Q 0
Interest-rate transactions, sale …Å.[.[.. 0 0 0 0
Equity transactions, purchase .….. 0 0 0 Q
Equity transactions, sale... Q 0 0 0
CT Other transactions, purchase .….[.[.[. 0 0 0 Q
Other transactions, sale... 0 0 0 0
Total 0 Q Q 0
JYSKE BANK (NOMINEES) LTD. Whole "000 DKK FB 10
Notes on the annual accounts 1999 1999 1998
Credit risks Advances + Advances +
guarantees guarantees
Advances and guarantees according to as % at the as % at the
sesctors and branches end of year end of year
1... Public authorities…....u.nvdvd.dssenevseesrseveeveseeesenenne nes sens neeveveveseree -
2... Industries…..W...sssseverdereneresresesernenenneses sen snen renee nes ee reen eee re seks ester -
2.1. Agriculture, hunting and forestry….......…..ssssesserrerresesesereresneser -
2.2. Fisheries….u..u.ssseseeeverereevsrseneesenneneeseneseent ener en