Ringkjøbing Landbobank — Earnings Release 2017

Aug 2, 2017

Profit before tax was DKK 391 million, the equivalent of a return of 23% p.a.
on equity at the beginning of the period, which is considered highly
satisfactory. The bank's core earnings increased by 11% to a total of DKK 348
million, which is above budget for the first half-year.

(DKK million) H1 H1 2016 2015 2014 2013
2017 2016

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Total core income 516 488 983 954 907 844
Total expenses and depreciation -158 -150 -318 -306 -298 -273
Core earnings before impairment charges for 358 338 665 648 609 571
loans
Impairment charges for loans etc. -10 -24 -48 -60 -87 -120
Core earnings 348 314 617 588 522 451
Result for the portfolio etc. +43 +13 +44 0 +65 +21
Profit before tax 391 327 661 588 587 472

The half-year - highlights:

-- Upward adjustment of expectations for core earnings to the range DKK 600 -
665 million
-- 11% increase in core earnings to DKK 348 million
-- Profit before tax was DKK 391 million, equivalent to a return of 23% p.a.
on equity at the beginning of the period
-- The rate of costs for the half-year was 30.6%, which is still the lowest in
Denmark
-- Decrease in impairment charges to DKK 10 million, the equivalent of 0.1%
p.a.
-- Increase in the bank’s loans of 7% and an increase in deposits of 11%
-- Continued highly satisfactory increases 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