Brief: Grønlandsbanken Q4 profit before tax up at DKK 23.8 mln

Groenlandsbanken A/S

24/02/2016 06:13

Feb 24 (Reuters) - Grønlandsbanken A/S  GRLA.CO : 
    * Reported on Tuesday Q4 net interest and fee income 70.4 million Danish crowns ($10.39 
million) versus 73.3 million crowns year ago 
    * Q4 write-downs on loans 5.0 million crowns versus 10.8 million crowns year ago 
    * Q4 profit before tax 23.8 million crowns versus 15.9 million crowns year ago 
    * Says recommends unchanged dividend of 55 crowns per share, or a total of 99 million crowns 
    * Says economic development in Greenland is estimated to improve further in 2016, which is 
expected to increase the Bank's earnings 
    * Sees profit before value adjustments and write-downs in 2016 at the level of 125 million - 
145 million crowns 
    * Still sees a moderate level of losses and write-downs  
 
 Source text for Eikon:  urn:newsml:reuters.com:*:nCSE6bTg 
     
 Further company coverage:  GRLA.CO   
    
($1 = 6.7749 Danish crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))