Skjern Bank A/S reported earnings results for the first quarter ended March 31, 2016. For the quarter, net income from interest was DKK 39,396,000 against DKK 39,364,000 a year ago. Profit on ordinary activities before tax was DKK 6,748,000 against DKK 20,815,000 a year ago. Profit was DKK 5,622,000 against DKK 15,924,000 a year ago. Earnings per share were DKK 2.1 against DKK 8.3 a year ago. Book value per share as at March 31, 2016 was DKK 293 against DKK 280 at March 31, 2015. Total core earnings were DKK 24,988,000 against DKK 22,279,000 last year. Core income was DKK 62,440,000 against DKK 57,218,000 last year. Core earnings before write-downs, value adjustments and Governmental Guarantee Scheme I was DKK 24,988,000 against DKK 22,279,000 last year.

For the quarter, net loan impairment was DKK 17,730,000 against DKK 9,898,000 a year ago. Group write-downs on loans etc., was DKK 24,243,000 against DKK 24,483,000 last year.

The bank's core earnings outlook for 2016 is still in the range of DKK 100 million - DKK 110 million.