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

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

 

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