Ringkjøbing Landbobank (RILBA) investor relations material

Executive summary

• Net profit after tax reached DKK 585 million in Q1 2026, up from DKK 560 million in Q4 2025, with EPS increasing by 6% to DKK 24.3 sequentially and a 22% annualized return on tangible equity.

• Total core income rose 3% quarter-over-quarter to DKK 1,049 million, slightly below Q1 2025, with core earnings before impairment charges at DKK 782 million.

• Loans grew by 3.2% in Q1 and 14.4% year-over-year to DKK 64.6 billion, while deposits increased by 2.4% in Q1 and 10.3% year-over-year to DKK 62.8 billion.

• Credit quality remains strong, with DKK 16 million in reversals and low net losses, supporting robust profitability.

• The ongoing DKK 500 million share buyback is set to complete in May, with a new DKK 400 million program to follow.

Financial highlights

• Net interest income for Q1 2026 was DKK 640 million, stable compared to Q4 2025, and net fee and commission income increased 7% year-over-year to DKK 313 million.

• Value adjustments contributed DKK 55 million, down from DKK 114 million in Q1 2025.

• Total expenses rose to DKK 267 million, up 3.4% year-over-year, with staff and administration expenses at DKK 264 million.

• Cost/income ratio was 25.5% in Q1 2026, maintaining the lowest level in Denmark.

• Return on tangible equity was 22.3% in Q1 2026.

Outlook and guidance

• Net profit guidance for 2026 is maintained at DKK 2.0–2.4 billion.

• Full-year cost growth is projected at approximately 4% over 2025.

• No refinancing needs for Tier 2 and SNP capital expected for the rest of 2026, though further issues may be considered for capital planning.