COPENHAGEN, Sept 25 Denmark's Vestjysk Bank
said on Tuesday its chief executive would resign
immediately, after the bank took an additional impairment charge
of 600 million crowns ($104.54 million) to cover increased loan
Trading in the bank's shares had been halted earlier in the
day after speculation of more Danish bank mergers mounted, and
after business daily Borsen named the bank as one of the small
and medium-sized banks that could be next in line.
Because of the extra loan writedowns, Vestjysk Bank said it
expected full-year 2012 impairments to be 1.05 billion crowns.
"As a result of the above, and because the bank in recent
years has suffered significant impairment losses and made
significant allocations for losses on loans and guarantees, the
bank's Supervisory Board has lost confidence in the bank's Chief
Executive, Frank Kristensen," the bank said in the statement.
($1 = 5.7397 Danish crowns)
(Reporting by Mette Fraende)