Ringkjøbing Landbobank’s quarterly report for the first three quarters of 2023

Ringkjøbing Landbobank’s quarterly report for the first three quarters of 2023

The bank delivers core earnings of DKK 2,078 million and net profit of DKK 1,541 million for the first three quarters of the year. The net profit is equivalent to a 21% p.a. return on equity.

Core earnings

(DKK million)	Q1-Q3 2023	Q1-Q3 2022	2022	2021	2020	2019
Total core income	2,785	2,062	2,862	2,433	2,179	2,116
Total expenses and depreciation	708	654	891	817	788	805
Core earnings before impairment charges for loans	2,077	1,408	1,971	1,616	1,391	1,311
Impairment charges for loans etc.	-1	-2	-2	-68	-223	-100
Core earnings	2,076	1,406	1,969	1,548	1,168	1,211
Result for the portfolio etc.	-36	-80	-69	+7	-9	+49
Amortisation and write-downs on intangible assets	15	15	20	17	15	15
Tax	484	275	385	309	224	267
Net profit	1,541	1,036	1,495	1,229	920	978

Highlights of the first three quarters of 2023

• The net profit is DKK 1,541 million, equivalent to a 21% p.a. return on equity
• Core income increases by 35% to DKK 2,785 million
• Costs increase by 8%, and the cost/income ratio decreases to 25.4%
• Credit quality remains high, resulting in impairment charges of only DKK 1 million
• Continued highly satisfactory increase in customer numbers despite a marginal decrease in loans in the third quarter of 2023
• 10% increase in deposits and 3% increase in loans compared to the end of September 2022
• The bank’s brands remain highly ranked in the annual Voxmeter Image survey where the Ringkjøbing Landbobank brand takes first place.
• The upwardly adjusted expectations of results for 2023 are maintained

Yours sincerely

Ringkjøbing Landbobank

John Fisker

Attachment

• Q3 2023 rapport - EN

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.