Ringkjøbing Landbobank’s report for the first quarter of

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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.

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