Brief: Grønlandsbanken Q1 net profit down at DKK 14.7 million

Groenlandsbanken A/S

26/04/2016 15:29

April 26 (Reuters) - Groenlandsbanken A/S  GRLA.CO : 
    * Q1 of 2016 shows a profit before tax of 21.5 million Danish crowns ($3.27 million) 
compared to 25.2 million crowns for same period of 2015 
    * Q1 net interest and fees income 69.9 million crowns versus 71.7 million crowns year ago 
    * Q1 net profit 14.7 million crowns versus 17.2 million crowns year ago 
    * Q1 loan losses 4.1 million crowns versus 5.2 million crowns year ago 
    * Expects a further increase in 2016, especially in view of the expected increased 
construction activity and higher prawn quota 
    * Value adjustment of lending at a moderate level is therefore expected in 2016, and 
probably at the same level as in 2015 
    * A 2016 profit before value adjustments and write-downs at the level of 125-145 million 
crowns is still expected, compared to 137 million crowns in 2015 
 
Source text for Eikon:  ID:nCSE6hYL  
     
Further company coverage:  GRLA.CO  
 
($1 = 6.5754 Danish crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))