Ringkjøbing Landbobank’s report for the first q
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Posted On: 04/26/2017 4:00:18 AM
Ringkjøbing 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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