EIK Bank Danmark A/S

EIK Bank Danmark A/S was a member of Eik Banki Føroya P/F, a financial group operating in the Faroe Islands and in mainland Denmark. In October 2010, EIK Bank Danmark A/S became insolvent and was nationalised. Retail banking business of EIK Bank Danmark A/S was then sold to Sparekasse Lolland.

Financials

Total Assets (2010)
9 724.30 mln DKK  (+2.30%)
Net Income (2010)
28.51 mln DKK

In 2010 total assets of EIK Bank Danmark A/S were 9 724,30 mln DKK. In 2010 the bank's net income was 28,51 mln DKK.

EIK Bank Danmark A/S participates in deposit guarantee scheme of Denmark. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

Nørre Farimagsgade 15, 1364, København K, Denmark

EIK Bank Danmark A/S was headquartered in København K.

Bank Identifiers

MFI ID
DK009189
Close Date
October 2010

Financial Positions

Total Assets (2010)
9 724.30 mln DKK  (+2.30%)
Total Equity (2010)
744.62 mln DKK  (+23.18%)

In 2010 total assets of EIK Bank Danmark A/S were 9 724.30 mln DKK. Growth compared to the previous period (2009) was 2.30%. The evolution of the total assets of EIK Bank Danmark A/S is shown at Chart 1 below.

Total Assets of EIK Bank Danmark A/S.

Chart 1. Total Assets of EIK Bank Danmark A/S.

Recent changes in total assets of EIK Bank Danmark A/S and its main components are shown in Table 1.

2009 2010 % change
Cash and deposits with Central Banks 385.6 369.2 -4.26%
Loans and advances at fair value 25.1 63.9 +154.77%
Loans and advances at amortized cost 7 258.7 6 004.7 -17.28%
Bonds at fair value 1 178.2 1 562.8 +32.65%
Bonds at amortized cost 0.0 0.0 0.00%
Shares and other variable-yield securities 86.3 18.6 -78.45%
Total Assets 9 506.1 9 724.3 +2.30%
Table 1. Recent changes in total assets of EIK Bank Danmark A/S (mln DKK).

Recent changes in total liabilities of EIK Bank Danmark A/S and its main components are shown in Table 2.

2009 2010 % change
Amount owed to banks 273.8 150.9 -44.90%
Deposits 7 940.5 5 957.8 -24.97%
Issued bonds at fair value 1.1 0.0 -100.00%
Issued bonds at amortized cost 0.0 1 750.2
Total Liabilities 9 506.1 9 724.3 +2.30%
Table 2. Recent changes in total liabilities of EIK Bank Danmark A/S (mln DKK).

Profit and Loss

Net Income (2010)
28.51 mln DKK

Recent changes in gross profit of EIK Bank Danmark A/S and its main components are shown in Table 3.

2009 2010 % change
Interest Income 428.1 75.2 -82.44%
Interest Charges -231.9 -24.6 -89.39%
Net Interest Income 196.2 50.6 -74.23%
Commission Income 35.9 9.9 -72.44%
Commission Charges -4.4 -8.5 +93.88%
Net Commission Income 228.1 52.0 -77.21%
Table 3. Recent changes in gross profit of EIK Bank Danmark A/S (mln DKK).

In 2010 net income of EIK Bank Danmark A/S was 28.51 mln DKK. Decline compared to the previous period (2009) was -112.84%. The evolution of the net income of EIK Bank Danmark A/S is shown at Chart 2 below.

Net Income of EIK Bank Danmark A/S.

Chart 2. Net Income of EIK Bank Danmark A/S.

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Denmark are obliged to participate in Danish deposit guarantee scheme.

In the case of EIK Bank Danmark A/S failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  cash deposits
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of EIK Bank Danmark A/S is shown in the table below.

MFI ID  DK009189

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