Ringkj�bing Landbobank�s interim report for the first half of 2022

Nasdaq Copenhagen
London Stock Exchange
Euronext Dublin
Other stakeholders

3 August 2022

Ringkj�bing Landbobank’s interim report for the first half of 2022

The bank delivers core earnings of DKK 920 million and profit before tax of DKK 891 million in the first half of 2022. The profit before tax is equivalent to a 20% p.a. return on equity.

Core earnings

(DKK million)	H1 2022	H1 2021	2021	2020	2019	2018
Total core income	1,358	1,179	2,433	2,179	2,116	2,001
Total expenses and depreciation	436	404	817	788	805	866
Core earnings before impairment charges for loans	922	775	1,616	1,391	1,311	1,135
Impairment charges for loans etc.	-2	-48	-68	-223	-100	-43
Core earnings	920	727	1,548	1,168	1,211	1,092
Result for the portfolio etc.	-19	-3	+7	-9	+49	+77
Special costs	10	8	17	15	15	217
Profit before tax	891	716	1,538	1,144	1,245	952

Highlights of the first half of 2022

• The profit before tax is DKK 891 million, equivalent to a 20% p.a. return on equity
• Core income increases by 15% to DKK 1,358 million
• Costs increase by 8%, and the rate of costs falls to 32.1% for the half-year
• Growth in loans of 25% compared to the end of June 2021 attributable to the takeover of client portfolios from BIL Danmark and SEB, coronavirus effects and a continued satisfactory increase in customers
• The transfer of clients from SEB was smooth and has now been completed
• The bank’s long-term issuer rating at Moody’s has been upgraded to Aa3
• The ESG-rating for the bank at MSCI has been upgraded to A
• The upwardly adjusted expected results for 2022 are maintained

Yours sincerely

Ringkjøbing Landbobank

John Fisker

Attachment

• Q2 2022 report – EN