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April 27, 2022
Ringkjøbing Landbobank report for the first quarter of 2022
The bank generated a basic profit of DKK 463 million and a pre-tax profit of DKK 449 million in the first quarter of the year. Pre-tax profit equates to a return on equity of 20.7% per year.
Basic income
| (millions of Danish kroner) | Q1 2022 | Q1 2021 | 2021 | 2020 | 2019 | 2018 |
| Total basic income | 674 | 600 | 2,433 | 2,179 | 2,116 | 2001 |
| Total expenses and amortization | 210 | 203 | 817 | 788 | 805 | 866 |
| Basic earnings before loan impairment charges | 464 | 397 | 1,616 | 1,391 | 1,311 | 1,135 |
| Loan impairment charges, etc. | -1 | -29 | -68 | -223 | -100 | -43 |
| Basic income | 463 | 368 | 1,548 | 1,168 | 1,211 | 1,092 |
| Result for wallet etc. | -9 | -ten | +7 | -9 | +49 | +77 |
| Special charges | 5 | 4 | 17 | 15 | 15 | 217 |
| Profit before tax | 449 | 354 | 1,538 | 1,144 | 1,245 | 952 |
First Quarter 2022 Highlights
- Profit before tax is DKK 449 million, which equates to a return on equity of 20.7% per year
- Basic income increases by 12% to DKK 674 million
- The expense ratio fell to 31.2% over the quarter
- No direct exposure to Russia and Ukraine but management estimate of DKK 108 million
- A strong increase in new customers and a high level of activity translate into a growth of 17% of the bank’s loans compared to the end of March 2021 and a growth of 5% in the first quarter of 2022
- Forging a strategic partnership with SEB in private banking
- The results expected for 2022 are maintained
cordially
Ringkjøbing Landbobank
John Fisker
Please see the full Q1 2022 quarterly report in the attached pdf.
