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Ringkjøbing Landbobank’s interim report for the first half of 2020


Nasdaq Copenhagen
London Stock Exchange
Other stakeholders

5 August 2020

Ringkjøbing Landbobank’s interim report for the first half of 2020

The financial results for the half-year are affected by the corona crisis. We are pleased, in this context, that the bank’s business model is robust, with a low rate of costs and a strong capital base.

Core earnings

(DKK million)H1
2019  2018   


Total core income1,0611,0482,1162,0011,9171,861
Total expenses and depreciation390405805866845815
Core earnings before impairment charges for loans6716431,3111,1351,0721,046
Impairment charges for loans etc.-141-49-100-43-70-211
Core earnings5305941,2111,0921,002835
Result for the portfolio etc.-41+33+49+77+84+78
Special costs88152172222
Profit before tax4816191,2459521,064891

Highlights of the first half of 2020

  • Our main focus during the corona crisis has been to help our customers and business partners 
    – and of course to safeguard the working conditions of our employees
  • Income increases by 1% and expenses fall by 4%, reducing the bank’s rate of costs to 36.8%
  • The management estimate for impairment charges in the second quarter of 2020 has increased by DKK 198 million after impairment charges of DKK 66 million for operations in the quarter and large reversals, particularly in the agricultural segment
  • 11% fall in core earnings to DKK 530 million
  • 22% fall in profit before tax to DKK 481 million
  • Continued big increase in customers and 2% growth in loans
  • Strong capital position with common equity tier 1 capital ratio of 18.1% and MREL capital ratio of 30.0%


Yours sincerely
Ringkjøbing Landbobank



John Fisker


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