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Ringkjøbing Landbobank Earnings Release 2017
3381_rns_2017-08-02_0c408c19-c429-4cf4-8a16-4663b337047d.html
Earnings Release
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UK Regulatory | 2 August 2017 08:30
Ringkjoebing Landbobank’s interim report 2017 – Upward adjustment of expectations for the full year
Ringkjoebing Landbobank A/S / Half-yearly Results
02-Aug-2017 / 08:30 CET/CEST
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The issuer is solely responsible for the content of this announcement.
| (DKK million) | H1 2017 |
H1 2016 |
2016 | 2015 | 2014 | 2013 |
| 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 loans | 358 | 338 | 665 | 648 | 609 | 571 |
| 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 bankâs 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 bankâs management if you have any questions.
| Yours sincerely |
| Ringkjøbing Landbobank John Fisker Jørn Nielsen |
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| Language: | English |
| Company: | Ringkjoebing Landbobank A/S |
| Denmark | |
| ISIN: | DK0060854669 |
| Category Code: | IR |
| TIDM: | 0FTC |
| Sequence No.: | 4490 |
| End of Announcement | EQS News Service |