Ringkjøbing Landbobank’s quarterly report for the first three quarters of 2021

The bank delivers core earnings of DKK 1,121 million and profit before tax of DKK 1,105 million. The profit before tax is equivalent to a 17.6% p.a. return on equity.

Core earnings

(DKK million)
Q1-3
2021
Q1-3
2020
2020
2019
2018
2017
2016
Total core income
1,782 1,613
2,179
2,116
2,001
1,917
1,861
Total expenses and depreciation
600
576 788
805
866
845
815
Core earnings before impairment charges for loans
1,182 1,037 1,391
1,311
1,135
1,072
1,046
Impairment charges for loans etc.
-61
-185
-223
-100
-43
-70
-211
Core earnings
1,121 852 1,168
1,211
1,092
1,002
835
Result for portfolio etc.
-4
-24
-9
49
77
84
78
Special costs
12
11
15
15
217
22
22
Profit before tax
1,105
817
1,144
1,245
952
1,064
891

Highlights of the first three quarters of 2021

  • The profit before tax is DKK 1,105 million, equivalent to a 17.6% p.a. return on equity
  • Core income increases by 11% to DKK 1,782 million following nine months of high activity levels
  • Expenses increase by 4% to DKK 600 million
  • The rate of costs decreases to 33.7%
  • Continued increase in new customers results in growth of 9% in the bank’s loans compared to September 2020
  • The purchase of BIL Danmark was satisfactorily completed and implemented in the third quarter
  • Image and customer satisfaction are rated among the best in Voxmeter surveys
  • The results for the year are expected to be at the upper end of the upwardly adjusted ranges.

Quarterly report for the first three quarters of 2021