GrønlandsBANKEN, A/S reported unaudited earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported profit of DKK 14.65 million compared to DKK 17.2 million reported in the same period last year. Interest income was DKK 51.4 million against DKK 54.15 million reported last year. Net interest income was DKK 48.3 million against DKK 50.6 million reported last year. Profit before tax was DKK 21.5 million against DKK 25.2 million reported last year. Net book value per share was DKK 479 against DKK 478 reported last year. Profit per share after tax was DKK 8.1 against DKK 9.6 reported last year.

For the year 2016, a profit before value adjustments and write-downs at the level of DKK 125-145 million is expected compared to DKK 137 million in 2015.