Ringkjoebing Landbobank A/S
Ringkjoebing Landbobank’s report for the first quarter of 2017 – Best quarterly result ever

 

(DKK million)	Q1 2017	Q1 2016	2016	2015	2014	2013
Total core income	251	239	983	954	907	844
Total expenses and depreciation	-75	-71	-318	-306	-298	-273
Core earnings before impairment charges for loans	176	168	665	648	609	571
Impairment charges for loans etc.	-5	-11	-48	-60	-87	-120
Core earnings	171	157	617	588	522	451
Result for the portfolio etc.	+27	+2	+44	0	+65	+21
Profit before tax	198	159	661	588	587	472

 

The quarter – highlights

• Profit before tax was DKK 198 million, the equivalent of a return of 23% p.a. on equity at the beginning of the period
• Core earnings were DKK 171 million, which is above budget for the quarter
• The rate of costs for the quarter was 29.9%, which is still the lowest in Denmark
• Decrease in impairment charges to DKK 5 million, the equivalent of 0.1% p.a.
• Increase in the bank’s loans of 7% and an increase in deposits of 10%
• 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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