TIDMRILBA 
 
 
   The bank's board of directors and general management today approved the 
annual report for 2019. 
 
   2019 was the first full year after the merger with Nordjyske Bank. We 
are therefore pleased that we have been able to fully keep what we 
promised when we announced the merger. Our new bank is being well 
received by our growing numbers of customers. Lending also continued to 
grow in all parts of the bank. 
 
   Core earnings 
 
 
 
 
(DKK million)                       2019   2018   2017   2016 
Total core income                   2,116  2,001  1,917  1,861 
Total expenses and depreciation       805    866    845    815 
Core earnings before impairment 
 charges for loans                  1,311  1,135  1,072  1,046 
Impairment charges for loans etc.     100     43     70    211 
Core earnings                       1,211  1,092  1,002    835 
Result for portfolio etc.             +49    +77    +84    +78 
Special costs                          15    217     22     22 
Profit before tax                   1,245    952  1,064    891 
 
 
 
   Highlights of the year 2019 
 
 
   -- The financial statements show an 11% increase in core earnings and a 31% 
      increase in profit before tax 
 
   -- The return on equity before tax is 17% 
 
   -- Income increases by 6% and expenses fall by 7% meaning that the rate of 
      costs falls from 43.3 to 38.0 
 
   -- Continued big increase in customers and 6% growth in the bank's loans 
 
   -- Pay-out ratio of 64 with dividend of DKK 11 and a DKK 300 million share 
      buy-back programme in 2020 
 
   -- Common equity tier 1 capital ratio of 15.0 and MREL capital ratio of 27.5 
 
   -- Ranking among the best Danish financial institutions by customer 
      satisfaction and image surveys 
 
 
 
   Yours sincerely 
 
   Ringkjøbing Landbobank 
 
   John Fisker 
 
   CEO 
 
   Attachments 
 
 
   -- Forside til selskabsmeddelelsen UK 
      https://ml-eu.globenewswire.com/Resource/Download/15a1ab2a-6114-44cb-bf05-d6966d4f6574 
 
 
   -- Annual report 2019 - UK 
      https://ml-eu.globenewswire.com/Resource/Download/44af4da2-8b55-46c5-b2a5-12130654ca57 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

February 05, 2020 01:11 ET (06:11 GMT)