UK Regulatory | 25 October 2017 08:30


Ringkjoebing Landbobank’s quarterly report for the first three quarters of 2017

Ringkjoebing Landbobank A/S (0FTC)

25-Oct-2017 / 08:30 CET/CEST
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The issuer is solely responsible for the content of this announcement.

Profit before tax increased by 17% to DKK 580 million, equivalent to a return of 23% p.a. on equity, which is considered highly satisfactory. The bank’s core earnings increased by 13% to a total of DKK 520 million, which is above budget for the first three quarters of the year.

(DKK million) Q1-Q3
2017 		Q1-Q3
2016
2016
2015
2014
2013
Total core income 764 721 983 954 907 844
Total expenses and depreciation -234 -224 -318 -306 -298 -273
Core earnings before impairment charges for loans 530 497 665 648 609 571
Impairment charges for loans etc. -10 -36 -48 -60 -87 -120
Core earnings 520 461 617 588 522 451
Result for the portfolio etc. +60 +36 +44 0 +65 +21
Profit before tax 580 497 661 588 587 472

Three quarters – highlights:

  • Expectations of core earnings for the year are clarified at around the upper end of the previously announced upwardly adjusted range of DKK 600 – 665 million
  • Profit before tax was DKK 580 million, equivalent to a return of 23% p.a. on equity
  • 13% increase in core earnings to DKK 520 million, which is above budget for the period
  • Decrease in the rate of costs to 30.7%
  • Decrease in impairment charges to DKK 10 million, the equivalent of 0.06% p.a.
  • Increase in loans of 7% and in deposits of 6%
  • Continued highly satisfactory increases in customer numbers in both the branch network and the niche concepts

Please do not hesitate to contact the bank’s management if you have any questions.

Yours sincerely
Ringkjøbing Landbobank


John Fisker        Jørn Nielsen

Click on, or paste the following link into your web browser, to view the associated documents https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=649432

ISIN: DK0060854669
Category Code: QRT
TIDM: 0FTC
Sequence No.: 4777

End of Announcement EQS News Service

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