Ringkjøbing Landbobank’s report for the first quarter of 2023

Nasdaq Copenhagen
London Stock Exchange
Euronext Dublin
Other stakeholders

26 April 2023

Ringkjøbing Landbobank’s report for the first quarter of 2023

The bank delivers core earnings of DKK 621 million and net profit of DKK 455 million in the first quarter of the year. The net profit is equivalent to a 20% p.a. return on equity.

Core earnings

Highlights of the first quarter of 2023

• The profit after tax is DKK 455 million, equivalent to a 20% p.a. return on equity
• Core income increases by 26% to DKK 849 million
• Costs increase by 8%, and the cost/income ratio decreases to 26.7%
• Credit quality remains high, resulting in impairment charges of DKK 1 million in the quarter, which coincide with a DKK 54 million increase in management estimates
• Continued highly satisfactory increase in customer numbers, which is underlined by increases in deposits and loans of 15% and 13% respectively compared to the end of March 2022
• The bank’s brands are both placed at the top in Voxmeter’s Image survey
• The upwardly adjusted expected results for 2023 are maintained

Yours sincerely
Ringkjøbing Landbobank

John Fisker

Attachment

• Q1 2023 report - EN