Ringkjøbing Landbobank’s quarterly report, 1st quarter of 2016

The profit before tax was DKK 159 million, representing a return of 20% p.a. on equity at the beginning of the period, which is considered highly satisfactory. The bank's core earnings were DKK 157 million, which is above budget for the first quarter of the year.

| Source: Ringkjøbing Landbobank A/S Ringkjøbing Landbobank A/S

 

(Million DKK) 1st qtr.
2016		 1st qtr.
2015
2015
2014
2013
2012
Total core income 239 238 954 907 844 823
Total costs and depreciations -71 -70 -306 -298 -273 -265
Core earnings before impairments 168 168 648 609 571 558
Impairment charges for loans etc. -11 -15 -60 -87 -120 -157
Core earnings 157 153 588 522 451 401
Result for portfolio etc. +2 +23 0 +65 +21 +47
Profit before tax 159 176 588 587 472 448

  

The quarter – highlights:

  • The profit before tax was DKK 159 million, equivalent to a return of 20% p.a. on equity at the beginning of the period
  • The bank’s core earnings were DKK 157 million, which is above budget for the quarter
  • The rate of costs for the quarter was 29.7%, which is still the lowest in Denmark
  • Fall in impairment charges to DKK 11 million, equivalent to 0.2% p.a.
  • 11% increase in the bank’s loans and 10% increase in deposits
  • Continued highly satisfactory increase 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

 

Attachments

Quarterly report Q 1 2016.pdf