Ringkjøbing Landbobank’s quarterly report for t
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Posted On: 10/25/2017 4:00:23 AM
Ringkjøbing 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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