Ringkjøbing Landbobank’s report for the first quarter of 2021

Nasdaq Copenhagen
London Stock Exchange
Other stakeholders

28 April 2021

Ringkjøbing Landbobank’s report for the first quarter of 2021

With core earnings of DKK 368 million and profit before tax of DKK 354 million, the bank delivers a good start to 2021. The profit before tax is equivalent to a return of 17.4% p.a. on equity.

Core earnings

(DKK million)	Q1 2021	Q1 2020	2020	2019	2018	2017	2016
Total core income	600	541	2,179	2,116	2,001	1,917	1,861
Total expenses and depreciation	203	198	788	805	866	845	815
Core earnings before impairment charges for loans	397	343	1,391	1,311	1,135	1,072	1,046
Impairment charges for loans etc.	-29	-75	-223	-100	-43	-70	-211
Core earnings	368	268	1,168	1,211	1,092	1,002	835
Result for the portfolio etc.	-10	-70	-9	+49	+77	+84	+78
Special costs	4	4	15	15	217	22	22
Profit before tax	354	194	1,144	1,245	952	1,064	891

Highlights of the first quarter of 2021

• The profit before tax is DKK 354 million, equivalent to a return of 17.4% p.a. on equity
• Core income increases by 11% to DKK 600 million following a high level of activity
• Expenses increase by 3% to DKK 203 million
• The rate of costs decreases to 34% in the quarter
• A big increase in new customers and a high level of activity result in growth of 3% in the bank’s loans, both compared to the end of March 2020 and in the first quarter of 2021
• Image in top 3 and customer satisfaction remains high

 

Yours sincerely

Ringkjøbing Landbobank

John Fisker

Attachment

• Q1 Rapport 2021 - EN