Today the board of directors of Ringkjøbing Bank has considered and adopted the
bank's quarterly report for the period 1 January to 30 September 2008.
Summary:
- Core earnings before write-downs show increase of 14%
- The core earnings, which are the earnings from the bank operation, fell by
52.9% to DKK 50.4 million
- Profit before tax of DKK 17.0 million against DKK 105.2 million relative to
last year
- Return on equity before tax of 2.7% p.a. against 18.2% p.a. for the same
period last year
- Change in the total business volume in the form of loans (+0%), deposits
(+6%) and guarantees (-14%)
- Net interest and income from fees rose by 8.5% to DKK 244.3 million
- Negative value adjustments amount to DKK 25.0 million against positive DKK
8.8 million in the same period last year
- Write-downs on loans are DKK 64.9 million against an income of DKK 6.0
million in the same period last year
- Solvency on 14.3
- Excess cover in relation to legal requirement on liquidity 119%
- Expectations to the annual result is reduced to DKK 50 million
- Negotiations about merger with Vestjysk Bank
For further information please contact:
Preben Knudsgaard, Managing Director, Tel.: +45 99753200
Kaj Damgaard, Director - Investor Relations, Tel.: +45 99753231
