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Ringkjøbing Landbobank Earnings Release 2017
3381_rns_2017-10-25_1cc4f21a-7622-4a49-a14c-b928d69ef1d2.html
Earnings Release
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News Details
UK Regulatory | 25 October 2017 08:30
Ringkjoebing Landbobank’s quarterly report for the first three quarters of 2017
Ringkjoebing Landbobank A/S (0FTC)
25-Oct-2017 / 08:30 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Profit before tax increased by 17% to DKK 580 million, equivalent to a return of 23% p.a. on equity, which is considered highly satisfactory. The bankâs core earnings increased by 13% to a total of DKK 520 million, which is above budget for the first three quarters of the year.
| (DKK million) | Q1-Q3 2017 |
Q1-Q3 2016 |
2016 | 2015 | 2014 | 2013 |
| Total core income | 764 | 721 | 983 | 954 | 907 | 844 |
| Total expenses and depreciation | -234 | -224 | -318 | -306 | -298 | -273 |
| Core earnings before impairment charges for loans | 530 | 497 | 665 | 648 | 609 | 571 |
| Impairment charges for loans etc. | -10 | -36 | -48 | -60 | -87 | -120 |
| Core earnings | 520 | 461 | 617 | 588 | 522 | 451 |
| Result for the portfolio etc. | +60 | +36 | +44 | 0 | +65 | +21 |
| Profit before tax | 580 | 497 | 661 | 588 | 587 | 472 |
Three quarters – highlights:
- Expectations of core earnings for the year are clarified at around the upper end of the previously announced upwardly adjusted range of DKK 600 – 665 million
- Profit before tax was DKK 580 million, equivalent to a return of 23% p.a. on equity
- 13% increase in core earnings to DKK 520 million, which is above budget for the period
- Decrease in the rate of costs to 30.7%
- Decrease in impairment charges to DKK 10 million, the equivalent of 0.06% p.a.
- Increase in loans of 7% and in deposits of 6%
- Continued highly satisfactory increases in customer numbers in both the branch network and the niche concepts
Please do not hesitate to contact the bankâs management if you have any questions.
| Yours sincerely |
| Ringkjøbing Landbobank John Fisker Jørn Nielsen |
Click on, or paste the following link into your web browser, to view the associated documents https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=649432
| ISIN: | DK0060854669 |
| Category Code: | QRT |
| TIDM: | 0FTC |
| Sequence No.: | 4777 |
| End of Announcement | EQS News Service |