Ringkjoebing Landbobank A/S
Ringkjoebing Landbobank’s interim report 2017 – Upward adjustment of expectations for the full year

 

(DKK million)	H1 2017	H1 2016	2016	2015	2014	2013
Total core income	516	488	983	954	907	844
Total expenses and depreciation	-158	-150	-318	-306	-298	-273
Core earnings before impairment charges for loans	358	338	665	648	609	571
Impairment charges for loans etc.	-10	-24	-48	-60	-87	-120
Core earnings	348	314	617	588	522	451
Result for the portfolio etc.	+43	+13	+44	0	+65	+21
Profit before tax	391	327	661	588	587	472

 

The half-year – highlights:

• Upward adjustment of expectations for core earnings to the range DKK 600 – 665 million
• 11% increase in core earnings to DKK 348 million
• Profit before tax was DKK 391 million, equivalent to a return of 23% p.a. on equity at the beginning of the period
• The rate of costs for the half-year was 30.6%, which is still the lowest in Denmark
• Decrease in impairment charges to DKK 10 million, the equivalent of 0.1% p.a.
• Increase in the bank’s loans of 7% and an increase in deposits of 11%
• 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

 

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