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Ringkj�bing Landbobank�s quarterly report for the first three quarters of 2022

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Nasdaq Copenhagen
London Stock Exchange
Euronext Dublin
Other stakeholders

26 October 2022

Ringkj�bing Landbobank�s quarterly report for the first three quarters of 2022

The bank delivers core earnings of DKK 1,406 million and profit of DKK 1,036 million after tax for the first three quarters of the year. The profit after tax is equivalent to a 16% p.a. return on equity.


Core earnings

(DKK million) Q1-Q3
2022 		Q1-Q3
2021
2021
2020
2019
2018
Total core income 2,062 1,782 2,433 2,179 2,116 2,001
Total expenses and depreciation 654 600 817 788 805 866
Core earnings before impairment charges for loans 1,408 1,182 1,616 1,391 1,311 1,135
Impairment charges for loans etc. -2 -61 -68 -223 -100 -43
Core earnings 1,406 1,121 1,548 1,168 1,211 1,092
Result for the portfolio etc. -80 -4 +7 -9 +49 +77
Special costs 15 12 17 15 15 217
Tax -275 -230 -309 -224 -267 -174
Net profit 1,036 875 1,229 920 978 778


Highlights of the first three quarters of 2022

  • The profit after tax is DKK 1,036 million, equivalent to a 16% p.a. return on equity
  • Core income increases by 16% to DKK 2,062 million
  • Costs increase by 9%, and the rate of costs decreases to 31.7%
  • Growth in loans of 24% compared to the end of September 2021 is attributable to the takeover of the SEB client portfolio, coronavirus effects and a continued satisfactory increase in customers
  • The portfolio of deposits has increased by 15% since the end of September 2021.
  • Satisfactory final report on the Danish FSA�s ordinary inspection
  • The bank�s two brands take first and third place in Voxmeter image survey.
  • The profit before tax is expected to be at the upper end of the previously announced upwardly adjusted interval

Yours sincerely
Ringkj�bing Landbobank

John Fisker

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