Vurdering af grunnfondsbeviset og grunnfondsbevisbankerne set fra London

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Vurdering af grunnfondsbeviset og
grunnfondsbevisbankerne set fra London
13 September 2007
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Introduction
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(No Transcript)
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Net interest income in of total income,
European retail (2006)
Source Companies, FPK
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Net interest income in of lending, European
retail (2006)
Source Companies, FPK
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Loan losses and provisions of lending, European
retail (2006)
Source Companies, FPK
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Costincome, European retail (2006)
Source Companies, FPK
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Income growth, European retail (2006)
Source Companies, FPK
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Deposit funding, group (2006)
Source Companies, FPK
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Market cap (Eur bn)
Source Companies, FPK
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Total income, European retail (Eur mn) 2006
Source Companies, FPK
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Economies of scale? European retail (2006)
Source Companies, FPK
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Size vs. valuation
Source FPKe, Bloomberg
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Size vs. valuation
Source FPKe, Bloomberg
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Grunnfondsbeviset
Primary ..What?
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Kim Bergoe Banks Analyst Research 44 (0)20 7663
6041
IMPORTANT INFORMATION This presentation has been
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the FPK client to whom it is delivered (such
client hereinafter, you or the Company) in
order to assist the Company in evaluating, on a
preliminary basis, the feasibility of a possible
transaction or transactions. The information in
this presentation includes certain analyses that
are based on information that is proprietary to
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without reference to, and should be viewed solely
in conjunction with, the oral briefing provided
by FPK. FPK is affiliated with J.C. Flowers I LP
and J.C. Flowers II, LP (J.C. Flowers Funds),
investment funds managed by J. Christopher
Flowers and entities controlled by him (J.C.
Flowers Group). The J.C. Flowers Funds hold
controlling or non-controlling interests in
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interest in FPK may give rise to situations where
FPK or a member of the J.C. Flowers Group or the
Swiss Re Group may have an interest which may
conflict with the interests of the Company or
which may be affected by the Transaction, or
where FPK or a member of the J.C. Flowers Group
or the Swiss Re Group may provide services to
other clients whose interests may conflict with
the interests of the Company. FPK or any member
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may (i) hold or effect transactions in securities
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(including financial statements or forecasts or
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