Ringkjøbing Landbobank — Earnings Release 2016

Oct 26, 2016

Profit before tax increased by 11% to DKK 497 million, equivalent to a return
of 21% p.a. on equity, which is considered highly satisfactory. The bank's core
earnings increased by 4% to a total of DKK 461 million, which is above budget
for the first three quarters of the year.

(Million DKK) 1st-3rd 1st-3rd 2015 2014 2013 2012
qtr. qtr.
2016 2015

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Total core income 721 710 954 907 844 823
Total costs and depreciations -224 -221 -306 -298 -273 -265
Core earnings before 497 489 648 609 571 558
impairments
Impairment charges for loans -36 -44 -60 -87 -120 -157
etc.
Core earnings 461 445 588 522 451 401
Result for portfolio etc. +36 +1 0 +65 +21 +47
Profit before tax 497 446 588 587 472 448

Three quarters - highlights:

-- Clarification of expectations for core earnings for the year given around
the upper end of the previously announced range of DKK 525 - 600 million
-- The profit before tax was DKK 497 million, equivalent to a return of 21%
p.a. on equity
-- 4% increase in core earnings to DKK 461 million, which is above budget for
the period
-- The rate of costs for the period was 31.1%, which is still the lowest in
Denmark
-- Decrease in impairment charges to DKK 36 million, the equivalent of 0.2%
p.a.
-- 12% increase in the bank’s loans and 21% 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