Ringkj�bing Landbobank�s quarterly report for the first three quarters of 2022

Nasdaq Copenhagen
London Stock Exchange
Euronext Dublin
Other stakeholders

26 October 2022

Ringkj�bing Landbobank’s quarterly report for the first three quarters of 2022

The bank delivers core earnings of DKK 1,406 million and profit of DKK 1,036 million after tax for the first three quarters of the year. The profit after tax is equivalent to a 16% p.a. return on equity.

Core earnings

(DKK million)	Q1-Q3 2022	Q1-Q3 2021	2021	2020	2019	2018
Total core income	2,062	1,782	2,433	2,179	2,116	2,001
Total expenses and depreciation	654	600	817	788	805	866
Core earnings before impairment charges for loans	1,408	1,182	1,616	1,391	1,311	1,135
Impairment charges for loans etc.	-2	-61	-68	-223	-100	-43
Core earnings	1,406	1,121	1,548	1,168	1,211	1,092
Result for the portfolio etc.	-80	-4	+7	-9	+49	+77
Special costs	15	12	17	15	15	217
Tax	-275	-230	-309	-224	-267	-174
Net profit	1,036	875	1,229	920	978	778

Highlights of the first three quarters of 2022

• The profit after tax is DKK 1,036 million, equivalent to a 16% p.a. return on equity
• Core income increases by 16% to DKK 2,062 million
• Costs increase by 9%, and the rate of costs decreases to 31.7%
• Growth in loans of 24% compared to the end of September 2021 is attributable to the takeover of the SEB client portfolio, coronavirus effects and a continued satisfactory increase in customers
• The portfolio of deposits has increased by 15% since the end of September 2021.
• Satisfactory final report on the Danish FSA’s ordinary inspection
• The bank’s two brands take first and third place in Voxmeter image survey.
• The profit before tax is expected to be at the upper end of the previously announced upwardly adjusted interval

Yours sincerely
Ringkjøbing Landbobank

John Fisker

Attachment

• Q3 2022 rapport – EN – final