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BRIEF-Vestjysk Bank comments on new Tier 1 capital requirement as of Jan 1, 2017
December 30, 2016 / 8:16 AM / a year ago

BRIEF-Vestjysk Bank comments on new Tier 1 capital requirement as of Jan 1, 2017

Dec 30 (Reuters) - Vestjysk Bank A/S :

* On Nov. 23 it was announced that bank is required to include additional Tier 1 capital from Danish State of 312 million Danish crowns ($44.1 million) in its individual solvency need as of Jan. 1, 2017

* Is not considered likely that bank can cover stricter requirements for capital conservation buffer in full as of Jan. 1, 2017, but only that bank can cover majority thereof

* Will continue to be subject to certain statutory restrictions on payment of bonus and dividend

* In addition, bank must prepare and submit capital conservation plan for Danish FSA’s approval

Source text for Eikon:

Further company coverage: ($1 = 7.0737 Danish crowns) (Gdynia Newsroom)

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