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Ringkjøbing Landbobank increases FY'19 profit estimate

Ringkjøbing Landbobank A/S revised upwards its expected results for full year 2019, saying the high level of activity and the increase in customers in the first half continued in the third quarter.

The Danish lender now expects pretax profit for the period to be in the range of 1.125 billion Danish kroner to 1.275 billion kroner, up from between 900 million kroner and 1.20 billion kroner previously.

Core earnings are estimated to reach between 1.125 billion kroner and 1.225 billion kroner, compared to a previous range of 950 million kroner and 1.15 billion kroner.

As of Oct. 3, US$1 was equivalent to 6.79 Danish kroner.