Accounts

Here are the accounts of Ringkjøbing Landbobank

Five years’ key figures

Five financial years, key figures (million DKK) 2017  2016 2015 2014 2013
Total core income 1,019 983 954 907 844
Total costs and depreciations -334 -318 -306 -298 -273
Core earnings before impairments for loans 685  665 648 609 571
Impairments for loans etc. -10 -48 -60 -87 -120
Core earnings 675  617 588 522 451
Result for portfolio +60 +44 0 +65 +23
Costs national bank packages 0 0 0 0 -2
Profit before tax 735  661 588 587 472
Profit after tax 589  539 459 446 358
       
Shareholders' equity 3,817 3,555 3,296 3,099 2,901
Deposits 19,110 18,314 16,987 15,450 14,114
Loans 19,351 17,482 17,017 14,924 13,849
Balance sheet total 25,796 24,258 22,317 21,238 19,583
Guarantees 3,184 2,460 2,234 2,218 1,902
       
Key figures for the bank (per cent)      
Return on equity before tax, beginning of year 21.7 20.9 19.8 21.1 18.1
Return on equity after tax, beginning of year 17.3 17.1 15.4 16.0 13.7
Rate of costs 32.8 32.3 31.1 32.8 32.4
Common equity tier 1 capital ratio 16.5 16.9 17.1 17.5 18.7
Tier 1 capital ratio 16.5 16.9 17.1 17.5 19.2
Total capital ratio 17.8 18.3 18.8 17.5 20.0
Individual solvency requirement 9.0 9.0 9.0 8.9 8.9
       
Key figures per 5 DKK share (DKK)      
Core earnings 30.9 27.6 25.7 22.4 18.9
Profit before tax 33.7 29.6 25.7 25.1 19.7
Profit after tax 27.0 24.1 20.1 19.1 15.0
Book value 175.0 159.0 144.2 132.7 121.4
Price, end of year 321.5 292.6 300.0 230.4 219.8
Dividend 9.0 7.2 6.0 5.2 5.0

The Danish Financial Supervisory Authority's key ratios etc. for Ringkjøbing Landbobank

    2017  2016 2015 2014 2013
Capital ratios:        
Total capital ratio % 17.8 18.3 18.8 17.5 20.0
Tier 1 capital ratio % 16.5 16.9 17.1 17.5 19.2
Individual solvency requirement % 9.0 9.0 9.0 8.9 8.9
Earnings:        
Return on equity before tax % 19.9 19.3 18.4 19.6 16.9
Return on equity after tax % 16.0 15.8 14.3 14.9 12.8
Income/cost ratio DKK 3.13 2.81 2.60 2.52 2.19
Return on assets % 2.3 2.2 2.1 2.1 1.8
Market risk:        
Interest rate risk % 1.1 1.8 2.2 1.2 0.6
Foreign exchange position % 1.1 0.6 0.8 0.4 1.6
Foreign exchange risk % 0.0 0.0 0.0 0.0 0.0
Liquidity risk:        
Liquidity Coverage Ratio (LCR) % 193 185 106
Excess cover relative to statutory liquidity requirement % 116.8 139.6 99.7 140.7 166.2
Loans and impairments thereon relative to deposits % 106.1 100.5 107.4 106.4 104.1
Credit risk:        
Loans relative to shareholders’ equity   5.1 4.9 5.2 5.0 4.8
Growth in loans for the year % 10.7 2.7 14.0 12.0 11.5
Total large exposures % 22.5 29.5 63.4 47.8 35.0
Cumulative impairment ratio % 4.0 4.5 4.6 5.0 5.1
Impairment ratio for the year % 0.04 0.23 0.29 0.47 0.72
Proportion of receivables at reduced interest % 0.1 0.3 0.4 0.3 0.5
Share return:        
Earnings per share */*** DKK 2,604.6 2,335.5 1,941.4 1,853.9 1,462.8
Book value per share */** DKK 17,500 15,916 14,428 13,280 12,145
Dividend per share * DKK 900 720 600 520 500
Market price relative to earnings per share */***   12.3 12.5 15.5 12.4 15.0
Market price relative to book value per share */**   1.84 1.84 2.08 1.73 1.81

      *) Calculated on the basis of a denomination of DKK 100 per share.
    **) Calculated on the basis of number of shares outstanding at the end of the year.
  ***) Calculated on the basis of the average number of shares. The average number of shares is calculated as a simple average of the shares at the beginning of the year and at the end of the year.