Ringkjøbing Landbobank A/S
The bank’s pre-tax profit for the first quarter of 2009 was DKK 58 million, equivalent to a 13% p.a. return on equity at beginning of year.

Ringkjøbing Landbobank A/S / 

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The bank's pre-tax profit for the first quarter of 2009 was DKK 58 million,
equivalent to a 13% p.a. return on equity at beginning of year. Given the costs
incurred in connection with the bank package I and the fact that the result for
the portfolio was negative, the profit is considered satisfactory. 

Core earnings before write-downs were DKK 121 million against last year's DKK
119 million, an increase of 1%. Write-downs totalling DKK 16 million were made,
after which the bank's core earnings were DKK 105 million. The expectation of
core earnings in the range DKK 250-450 million is maintained. 

The quarter - highlights
- Result before tax DKK 58 million - equivalent to 13% p.a. return on equity at
beginning of year 
- 1% increase in core earnings before write-downs
- Decrease in costs results in 4% improvement in rate of costs to 31.6
- Write-downs of DKK 16 million, equivalent to 0.42% p.a. of loans and
guarantees 
- DKK 32 million loss on portfolio - computed at market prices
- Costs of bank package I DKK 15 million
- 11% increase in deposits; 8% decrease in loans
- Solvency ratio increased to 18.3%, equivalent to excess solvency of 129%
- Core capital ratio increased to 14.7%
- Expectation for core earnings in 2009 maintained

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


                              Yours sincerely,

                           Ringkjøbing Landbobank

                      Bent Naur          John Fisker

News Source: NASDAQ OMX

22.04.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       Ringkjøbing Landbobank A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0003456952
WKN:          
 
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