Satisfactory interim result at The BANK of Greenland
The profit before tax was TDKK 115,923 compared to TDKK 106,908 for the same period of 2018.
The profit before tax gives a return of 16.1% p.a. on the opening equity after disbursement of dividend.
The BANK of Greenlands raises its profit guidance for the year of 2019 to DKK 135 – 155 million before tax, against the latest announced expectation of a profit of DKK 130 – 150 milllion. The profit before tax was DKK 140.3 million in 2018.
The profit before value adjustments and write-downs amounts to TDKK 112,715 compared to TDKK 115,520 for the same period last year.
Net interest and fee income amounts to TDKK 240,099 against TDKK 233,129 in the first 3 quarters of 2018
At the end of Q3 2019, total costs including write-offs amount to TDKK 131,664 compared to TDKK 121,743 for the same period of 2018
At the end of September 2019, value adjustments showed a gain of TDKK 9,823 compared to a gain of TDKK 503 for the same period of 2018.
Impairment of loans and guarantees shows a decrease of TDKK 2,500 and amounts to TDKK 6,615.
Impairment of loans and guarantees account for 0.1% of the Bank’s total loans and guarantees.
At the close of Q3 2019, The BANK of Greenland has excess liquidity coverage of 153,8%
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