Full-year financial results

This interim report presents the financial results of the banking activities of
the Danske Bank Group in Estonia. Sampo Pank has been part of the Danske
Bank Group since February 2007.

In addition to banking, Danske Bank operates in Estonia in the areas of
asset management (Danske Capital) and financial markets (Danske Markets
Estonia).

Aivar Rehe, CEO of Sampo Pank, comments on the financial results for
2009 as follows:

For the banking sector, 2009 can be characterised as a year of adaptation
to a new operating environment and of risk minimisation. Last year Sampo
Pank achieved two main objectives: maintaining profitability in our banking
activities before loan impairment charges and implementing the Danske
Bank Group's conservative loan portfolio assessment policy.

Profit before loan impairment charges totalled EEK 647m (in 2008: EEK
707m), which represented a year-on-year decline of 9%. After pursuing a
conservative loan portfolio management policy, Sampo Pank ended the
year with a pre-tax loss of EEK 2,050m (200: profit of EEK 462m).

Operating income totalled EEK 1,085m, representing a decline of 17%.
Operating expenses fell 28% to EEK 438m. Reduced staff levels, marketing
activities and other operating expenses were the main reasons for the
decline.

In 2009 we maintained a high level of efficiency in banking activities, posting
a cost/income ratio was 40.4% (46.1%).

The Estonian economy is in the midst of a transition. In the coming year,
we expect economic stabilisation and recovery, the first signs of which are
already visible. In the first half of 2010, however, income and solvency are
likely to remain under pressure for both retail and corporate customers.

In keeping with the Danske Bank Group's conservative loan portfolio assessment
policy, Sampo Pank recognised loan impairment charges totalling
EEK 2,697m (EEK 245m).

Individual impairment charges amounted to EEK 1.8bn, and collective
impairment charges to EEK 0.9bn. The ratio of loan impairments to the
annual average loan portfolio increased to 8.5% (0.8%) as a result of the
additional loan impairment charges.

Realised loan losses in 2009 amounted to EEK 358m, or 1.14% of the
annual average loan portfolio.

At the end of 2009, total lending volume was EEK 29.2bn (-14%). Lending
to retail customers decreased 5%, or EEK 691m, and lending to corporate
customers fell by 21%, or EEK 3.9bn. The loan portfolio declined EEK 1.4bn
in the fourth quarter.

In 2009 Sampo Pank again achieved sound deposit growth. At December
31, 2009, deposits amounted to EEK 23bn, a 4% increase. Deposits from
retail customers increased 1% to EEK 4.9bn, while deposits from corporate
customers increased 5%, or 0.9bn, to EEK 18.1bn. The volume of
deposits rose by EEK 1.3bn in the fourth quarter.

At the end of December, the ratio of loans to deposits was 1.27 (1.53), the
best level in the Estonian banking sector.

Customers continued to use Sampo Pank's services actively, and the volume
of payment services increased 16% during the year.

In 2009 Sampo Pank successfully launched a new retail customer loyalty
programme. We also maintained a high level of online services. According
to Baltic E-Banking Report 2009, Sampo Pank was the best provider of ebanking
and mobile banking services in Estonia.

For four consecutive years, Sampo Pank's service quality has been ranked
number one in the banking sector by TNS Emor. In 2009 Sampo Pank was
named not only the best bank but also the best corporation in Estonia.

The Danske Bank Group's Annual Report 2009 is available at www.danskebank.com/reports.