Today the board of directors of Ringkjøbing Bank has considered and adopted the
bank's interim report for the period 1 January to 30 June 2008.
Summary:
- The core earnings, which is the earnings from the bank operation, rose by
15.1% to DKK 74.6 million
- Profit before tax of DKK 63.6 million against DKK 63.7 million in the
previous year
- Return on equity before tax of 15.1% per annum against 16.9% per annum in the
first half of 2007
- Increase in the total business volume in the form of loans (+9%) deposits
(+22%) and guarantees (-8%)
- Net interest and income from fees rose by 9.2% to DKK 162.6 million
- Value adjustments are negative by DKK 4.5 million against positive value
adjustments of DKK 3.4 million in the same period last year. Value adjustments
are positively affected by DKK 15 million as a consequence of the agreement
with Nykredit, according to our company announcement of 6 March 2008
- Write-downs on loans amount to DKK 1.6 million against an income of DKK 5.1
million in the same period last year
- Downgrade to the original expected result of DKK 125 million before tax for
year 2008 against upgraded result of DKK 140 million in connection with
announcement of the accounts for first quarter of 2008
For further information please contact:
Preben Knudsgaard, Managing Director, Tel.: +45 99753200
Kaj Damgaard, Director - Investor Relations, Tel.: +45 99753231
