Accounts

Here are the accounts of Ringkjøbing Landbobank

Three years’ main and key figures - pro forma

Main figures for the bank (DKK million)

2018 2017 2016
Total core income 2,001 1,917 1,861
Total expenses and depreciation -866 -845 -815
Core earnings before impairments 1,135 1,072 1,046
Impairment charges for loans etc. -43 -70 -211
Core earnings 1,092 1,002 835
Result for the portfolio etc. +77 +84 +78
Profit before special costs 1,169 1,086 913
Special costs -217 -22 -22
Profit before tax 952 1,064 891
Net profit for the year 778 848 726
 

 
Equity 7,189 6,769 6,313
Deposits including pooled schemes 36,993 35,854 34,152
Loans 33,350 31,173 28,304
Balance sheet total 49,651 46,324 43,702
Guarantees 7,829 7,858 6,682
 

 
Key figures for the bank (per cent)


Profit before special costs as a percentage of average equity excluding intangible assets, p.a. 18.8 17.8 16.2
Profit before tax as a percentage of average equity, p.a. 13.6 16.3 14.6
Rate of costs 43.3 44.1 43.8
Common equity tier 1 capital ratio 15.0 15.8 15.8
Total capital ratio 18.8 17.3 17.5
MREL capital ratio 25.2 - -
 

 
Key figures per DKK 1 share (DKK)

 
Core earnings 36.5 30.9 27.6
Profit before tax 31.8 33.7 29.6
Net profit after tax 26.0 27.0 24.1
Book value 240.4 175.0 159.0
Price, end of year 340.0 321.5 292.6
Dividend 10.0 9.0 7.2

The Danish Financial Supervisory Authority's key ratios etc. for Ringkjøbing Landbobank

 

  2018 2017 2016 2015 2014
Capital ratios:  

     
Total capital ratio % 18.8 17.8 18.3 18.8 17.5
Tier 1 capital ratio % 15.0 16.5 16.9 17.1 17.5
Individual solvency requirement % 9.3 9.0 9.0 9.0 8.9
MREL requirement % 19.7 - - - -
MREL capital ratio % 25.2 - - - -
Earnings:  

     
Return on equity before tax % 14.8 19.9 19.3 18.4 19.6
Return on equity after tax % 12.1 16.0 15.8 14.3 14.9
Income/cost ratio DKK 1.99 3.13 2.81 2.60 2.52
Return on assets % 1.3 2.3 2.2 2.1 2.1
Market risk:  

     
Interest rate risk % 1.0 1.1 1.8 2.2 1.2
Foreign exchange position % 1.1 1.1 0.6 0.8 0.4
Foreign exchange risk % 0.0 0.0 0.0 0.0 0.0
Liquidity risk:  

     
Liquidity Coverage Ratio (LCR) % 183 193 185 106 -
Loans and impairments thereon relative to deposits % 95.5 106.1 100.5 107.4 106.4
Credit risk:  

     
Loans relative to shareholders’ equity   4.6 5.1 4.9 5.2 5.0
Growth in loans
(Pro forma growth in loans in 2018: 7.7%)
% 72.9 10.7 2.7 14.0 12.0
Total large exposures (<175%) % 106.0 136.1 - - -
Cumulative impairment ratio % 4.7 4.0 4.5 4.6 5.0
Impairment ratio % 0.20 0.04 0.23 0.29 0.47
Proportion of receivables at reduced interest % 0.5 0.1 0.3 0.4 0.3
Share return:  

     
Earnings per share * / *** DKK 2,486.5 2,604.6 2,335.5 1,941.4 1,853.9
Book value per share * / ** DKK 24,068 17,500 15,916 14,428 13,280
Dividend per share * DKK 1,000 900 720 600 520
Market price relative to earnings per share * / ***   13.7 12.3 12.5 15.5 12.4
Market price relative to book value per share * / **   1.41 1.84 1.84 2.08 1.73

     *) Calculated on the basis of a denomination of DKK 100 per share.
   **) Calculated on the basis of number of shares outstanding at the end of the year.
 ***) Calculated on the basis of the average number of shares. The average number of shares is calculated as a simple average of the shares at the beginning of the year and at the end of the year.