The profit before tax was TDKK 82,494, compared to TDKK 82,808 for the same period of 2015. The profit before tax gives a return of 13.0% p.a. on the opening equity after disbursement of dividend.
The profit before value adjustments and write-downs amounts to TDKK 104,549, compared to TDKK 104,003 for the same period of 2015.
Net interest and fee income increased by TDKK 1,470 to TDKK 215,246, compared to the same period of 2015.
Total costs, amortisation and depreciation increased by TDKK 798 to 114,360, compared to the same period of 2015.
Value adjustments represent a total capital loss of TDKK 10,120, compared to a capital loss of TDKK 6,774 for the same period of 2015.
Write-downs on lending, etc. are still on a limited scale and amounts to TDKK 11,935 compared to TDKK 14,421 for the first three quarters of 2015. Write-downs and provisions on the Bank's loans and guarantees constitutes 0.4% of the Bank's total loans and guarantees.
At the end of Q3 2016, the BANK of Greenland had surplus liquidity cover of 170.3 and a capital ratio of 20.5, compared to a capital requirement of 10.1%.
A profit before value adjustments and write-downs at the level of DKK 125-145 million is still expected for 2016, compared to DKK 137 million in 2015.
