Denmark's Ringkjobing Landbobank 9M core income rises 

Overview

• Denmark bank's core income for first three quarters rose 5% yr/yr

• Net profit for first three quarters up 3% yr/yr

• Bank launched new DKK 400 mln share buyback programme in October

Outlook

• Company now expects 2026 net profit at upper end of DKK 2.2-2.5 bln range

Result Drivers

• CUSTOMER GROWTH - Co said credit intermediation rose 12% p.a. and deposits increased 14% p.a., supporting results

• LOW IMPAIRMENT CHARGES - Co reported DKK 2 mln impairment reversal in Q3, marking 19 consecutive quarters of near-zero charges or reversals

• COST INCREASE - Co said costs in the quarter rose 4% yr/yr, with cost/income ratio at 25.4%

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 DKK2,012.50, about 12.5% above its October 20 closing price of DKK1,789.00

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

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(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.)