Børsens News Service in English
Positive Results for Ringkjobing Landbobank
11-08-2010
17:59
Another of the nation’s smaller banks, Ringkjobing Landbobank, posted optimistic results earlier today, leading to hopes that the crisis affecting the nation’s smaller financial institutions is now at an end.
Pre-tax profits for the Jutland-based bank were DKK 190 million in the first half of 2010 against DKK 155 million in the first half of 2009, an increase of 22.6%. An Aug 11 statement issued by the bank pointed out that these results were achieved despite costs incurred in connection with the government's first bank rescue package.
At DKK 206 million, Ringkjobing’s core earnings were up eight percent on last year's DKK 190 million. Write-downs totaled DKK 63 million - equivalent to 0.85% - in the first half of 2010, while the bank’s capital adequacy ratio increased to 20.7. The bank’s core income was 5% higher in the first half of 2010, increasing from DKK 372 million in 2009 to DKK 389 million this year. Net interest income increased by 1% from DKK 296 million to DKK 300 million.
The positive figures led to the bank's earnings expectations being revised upwards to DKK 300 - 400 million. Expectations at the beginning of the year were in the range of DKK 200 - 400 million.
Pre-tax profits for the Jutland-based bank were DKK 190 million in the first half of 2010 against DKK 155 million in the first half of 2009, an increase of 22.6%. An Aug 11 statement issued by the bank pointed out that these results were achieved despite costs incurred in connection with the government's first bank rescue package.
At DKK 206 million, Ringkjobing’s core earnings were up eight percent on last year's DKK 190 million. Write-downs totaled DKK 63 million - equivalent to 0.85% - in the first half of 2010, while the bank’s capital adequacy ratio increased to 20.7. The bank’s core income was 5% higher in the first half of 2010, increasing from DKK 372 million in 2009 to DKK 389 million this year. Net interest income increased by 1% from DKK 296 million to DKK 300 million.
The positive figures led to the bank's earnings expectations being revised upwards to DKK 300 - 400 million. Expectations at the beginning of the year were in the range of DKK 200 - 400 million.
*****||*****Positive Results for Ringkjobing Landbobank *****||*****Another of the nation’s smaller banks, Ringkjobing Landbobank, posted optimistic results earlier today, leading to hopes that the crisis affecting the nation’s smaller financial institutions is now at an end.*****||*****
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