Skjern Bank Announces Earnings Results for the First Quarter of 2015; Reports Impairments Charges for the First Quarter of 2015; Provides Earnings Guidance for the Fiscal Year 2015
Skjern Bank announced earnings results for the first quarter of 2015. For the period, the company reported net income from interest of DKK 39,364,000 against DKK 40,844,000 a year ago. Net income from interest and charges was DKK 56,355,000 against DKK 58,811,000 a year ago. Profit on ordinary activities before tax was DKK 20,815,000 against DKK 19,616,000 a year ago. Profit for the period was DKK 15,924,000 against DKK 14,712,000 a year ago. Earnings per share were DKK 8.3 against DKK 7.6 a year ago. Book value per share was DKK 280 against DKK 305 a year ago. Acceptable profit before tax of DKK 20.8 million compared to DKK 19.6 million in 2014.
For the quarter, the company impairments (individual write-downs on loans) were reduced to DKK 9.9 million compared to DKK 10.5 million in 2014.
The bank`s core earnings outlook for 2015 is still in the range of DKK 115 million to DKK 125 million.