Denmark's Ringkjobing Landbobank Q1 net profit falls

Ringkjoebing Landbobank A/S

29/04/2026 06:43

Overview

Denmark bank's Q1 net profit declined yr/yr to DKK 585 mln

Core income for Q1 was marginally lower than a year ago

Bank to start new DKK 400 mln share buyback after current DKK 500 mln program ends

Outlook

Ringkjobing Landbobank maintains 2026 net profit guidance at DKK 2.0-2.4 bln

Result Drivers

COST INCREASES - Co said costs rose 3% yr/yr, impacting profitability

STRONG CREDIT QUALITY - Positive impairment charges of DKK 16 mln carried to income due to continued strong credit quality

LOAN AND DEPOSIT GROWTH - Co reported 14% loan growth and 10% deposit growth yr/yr, with a highly satisfactory increase in customer numbers

Company press release: ID:nGNE4MjlWT

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Total Core Income
DKK 1.05 bln
Q1 Net Income
DKK 585 mln
Q1 Core Earnings Before Impairment
DKK 782 mln
Q1 Loan Impairment Charges
DKK 16 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "hold."

Wall Street's median 12-month price target for Ringkjoebing Landbobank A/S is DKK1,830.00, about 15.9% above its April 28 closing price of DKK1,579.00

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)