Ringkjøbing Landbobank’s quarterly report, 1st-3rd quarter of 2015. Large increase in customer numbers and more precise expectations.

The core earnings for the first three quarters of the year were DKK 445 million against DKK 398 mil-lion in 2014, an increase of 12%. The profit before tax was DKK 446 million, representing a return of 20% p.a. on equity at the beginning of the period, which is considered highly satisfactory.


 

(Million DKK) 1st-3rd
2015
1st-3rd
2014

2014

2013

2012

2011
Total core income 710 670 907 844 823 767
Total costs and depreciations -221 -209 -298 -273 -265 -248
Core earnings before impairments 489 461 609 571 558 519
Impairment charges for loans etc. -44 -63 -87 -120 -157 -129
Core earnings 445 398 522 451 401 390
Result for portfolio +1 +56 +65 +23 +49 +1
Expenses for bank packages 0 0 0 -2 -2 -11
Profit before tax 446 454 587 472 448 380

  

Three quarters - highlights:

  • Increase in core earnings from DKK 398 million in 2014 to DKK 445 million in 2015 - a 12% increase
  • The profit before tax was DKK 446 million, equivalent to a return of 20% p.a. on equity at the beginning of the period
  • Increase of 5% in the bank’s loans and 7% increase in deposits
  • Highly satisfactory number of new customers in both the branch network and niche concepts resulting in the best ever net increase in customer numbers
  • More precise expectations of core earnings for all of 2015 in the upper part of the upwardly adjusted range of DKK 500 - 575 million.

Please do not hesitate to contact the bank’s management if you have any questions.

 

Yours sincerely,
Ringkjøbing Landbobank
 
 
John Fisker                  Jørn Nielsen

 


Attachments

Quarterly report Q 1-3 2015.pdf