(Million DKK) |
1st half 2016 |
1st half 2015 |
2015 |
2014 |
2013 |
2012 |
Total core income | 488 | 482 | 954 | 907 | 844 | 823 |
Total costs and depreciations | -150 | -149 | -306 | -298 | -273 | -265 |
Core earnings before impairments | 338 | 333 | 648 | 609 | 571 | 558 |
Impairment charges for loans etc. | -24 | -29 | -60 | -87 | -120 | -157 |
Core earnings | 314 | 304 | 588 | 522 | 451 | 401 |
Result for portfolio etc. | +13 | +15 | 0 | +65 | +21 | +47 |
Profit before tax | 327 | 319 | 588 | 587 | 472 | 448 |
The half-year - highlights:
- Upward adjustment of expectations for core earnings to the range DKK 525 - 600 million
- The profit before tax was DKK 327 million, equivalent to a return of 21% p.a. on equity at the beginning of the period
- 3% increase in core earnings to DKK 314 million, which is above budget for the half-year
- The rate of costs for the half-year was 30.7%, which is still the lowest in Denmark
- DKK 5 million decrease in impairment charges to DKK 24 million, the equivalent of 0.2% p.a.
- 18% increase in the bank’s loans and 4% 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 |