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Ringkjøbing Landbobank’s announcement of the financial statements for 2018

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Nasdaq Copenhagen
London Stock Exchange
Other stakeholders

26 February 2019

Ringkjøbing Landbobank’s announcement of the financial statements for 2018

2018 is the first year in which Nordjyske Bank’s operations are recognised. As was the case with the interim report and the Q3 report, the announcement of the financial statements contains both pro forma financial statements and official financial statements.

Both sets of statements show growth compared to last year and the merger has made a good start.

Core earnings - pro forma

(DKK million) 2018 2017 2016
Total core income 2,001 1,917 1,861
Total expenses and depreciation -866 -845 -815
Core earnings before impairment charges for loans 1,135 1,072 1,046
Impairment charges for loans etc. -43 -70 -211
Core earnings 1,092 1,002 835
Result for the portfolio etc. +77 +84 +78
Profit before special costs 1,169 1,086 913

2018 - highlights

  • The financial statements show a 9% increase in core earnings to DKK 1,092 million and an 8% increase in profit before special costs to DKK 1,169 million
  • The integration of the banks is proceeding as expected and the merger has been well received by the customers
  • Continued big increase in customers and 7% growth in loans to DKK 33 billion
  • Pay-out ratio of 64%, increase in dividend to DKK 10 per share and a new share buy-back programme of DKK 190 million
  • Common equity tier 1 capital ratio of 15.0% and MREL capital ratio of 25.2%
  • Customer satisfaction high for both brands
  • The bank again tops the list of Voxmeter’s reputation survey in Denmark

Yours sincerely

Ringkjøbing Landbobank

John Fisker




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