Interim report for the period 1 January to 30 June 2007
Today the board of directors of Ringkjøbing Bank has considered and adopted the
bank's interim report for the period covering 1 January to 30 June 2007.
Summary:
• The core earnings, which are the earnings from the bank operation, rose by
11.4% to DKK 60.3 million after write-down on property by DKK 7.5 million with
respect to new construction of the branch in Hvide Sande.
• Profit before tax of DKK 63.7 million against DKK 69.9 million relative to
last year
• Return on equity before tax of 16.9% per annum against 21.9% per annum in the
first half of 2006
• Increase in the total business volume in the form of loans (+38%), deposits
(+18%) and guarantees (+12%)
• Net interest and income from fees rose by 14.7% to DKK 148.9 million
• Positive value adjustments amount to DKK 3.4 million against DKK 15.8 million
in the same period last year
• Write-downs on loans show income of DKK 5.1 million against a cost of DKK 0.6
million in the same period last year
• Ringkjøbing Bank plans establishment of new subordinated loan capital in
second half of 2007 and prepays subordinated loan capital DKK 25 million on 31
October 2007
• Upgrading of expectations to a result of DKK 130 million before tax for year
2007 against original DKK 115 million
For further information please contact:
Preben Knudsgaard, Managing Director, Tel.: +45 99753200
Kaj Damgaard, Director - Investor Relations, Tel.: +45 99753231
