Today the board of directors of Ringkjøbing Bank has considered and adopted the
bank's quarterly report for the period covering 1 January to 31 March 2008.
Summary:
- Profit before tax of DKK 51.7 million equal to a rise of 18% relative to same
period last year.
- The core earnings, which are the earnings from the bank operation, rose by
14% to DKK 38 million.
- Return on equity rose to 24.6% per annum from 23.4% per annum last year.
- Increase in the total business volume in the form of loans (+13%), deposits
(+29%) and guarantees (+24%).
- Net interest and income from fees rose by DKK 6.6 million to DKK 77.7
million.
- Value adjustments amount to DKK 17.9 million against DKK 12.2 million in the
same period last year. The value adjustments are positively affected by DKK 15
million as a result of the agreement with Nykredit, according to our corporate
announcement of 6 March 2008.
- Write-downs on loans show income of DKK 2.8 million against an income of DKK
1.5 million in the same period last year.
- Upgrading of expectations to a result of DKK 140 million before tax for year
2008 against original DKK 125 million.
For further information please contact:
Preben Knudsgaard, Managing Director, Tel.: +45 9975 3200
Kaj Damgaard, Director - Investor Relations, Tel.: +45 9975 3231
