Today the board of directors of Ringkjøbing Bank has considered and adopted the
bank's quarterly report for the period covering 1 January to 30 September 2007.
Summary:
- The core earnings, which are the earnings from the bank operation, rose by
6.9% to DKK 96.4 million after write-down on property by DKK 7.5 million
relating to new construction of the branch in Hvide Sande
- Profit before tax of DKK 105.2 million against DKK 117.2 million relative to
last year
- Return on equity before tax of 18.2% per annum against 23.8% per annum for
the same period last year
- Increase in the total business volume in the form of loans (+38%), deposits
(+22%) and guarantees (+22%)
- Net interest and income from fees rose by 17.0% to DKK 225.2 million
- Positive value adjustments amount to DKK 8.8 million against DKK 27.0 million
in the same period last year
- Write-downs on loans show income of DKK 6.0 million against an income of DKK
8.9 million in the same period last year
- Ringkjøbing Bank plans to raise a new subordinated loan capital as of 31
October 2007 on DKK 50 million and makes early repayment of subordinated loan
capital of DKK 25 million as of 31 October 2007
- Maintains the previous announced 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
