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Last kr609.00 DKK
Change Today +2.00 / 0.33%
Volume 136.0
As of 11:00 AM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

gronlandsbanken (GRLA) Snapshot

Open
kr617.00
Previous Close
kr607.00
Day High
kr619.00
Day Low
kr609.00
52 Week High
03/6/15 - kr700.00
52 Week Low
12/23/14 - kr597.00
Market Cap
1.1B
Average Volume 10 Days
937.3
EPS TTM
kr40.98
Shares Outstanding
1.8M
EX-Date
03/26/15
P/E TM
14.9x
Dividend
kr55.00
Dividend Yield
9.03%
Current Stock Chart for GRONLANDSBANKEN (GRLA)

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gronlandsbanken (GRLA) Details

GrønlandsBANKEN, Aktieselskab provides banking products and services in Greenland. The company offers demand deposits, deposits with term of notice, time deposits, special deposits, and loans. It also provides home-banking, mortgage credit, insurance, payment, and investment services; debit and credit cards; and unit trust services, as well as financial IT systems. GrønlandsBANKEN, Aktieselskab was founded in 1967 and is based in Nuuk, Greenland.

118.3 Employees
Last Reported Date: 08/12/15
Founded in 1967

gronlandsbanken (GRLA) Top Compensated Officers

Bank Director
Total Annual Compensation: kr3.1M
Compensation as of Fiscal Year 2014.

gronlandsbanken (GRLA) Key Developments

The Bank of Greenland Reports Unaudited Group Earnings Results for the Second Quarter and First Half Year Ended June 30, 2015; Provides Earnings Guidance for the Year of 2015; Provides Write-Down Guidance for the Year of 2015; Reports Impairment of Loans for the Second Quarter of 2015

The Bank of Greenland reported unaudited group earnings results for the first half year ended June 30, 2015. For the period, the company reported net interest income was DKK 101,328,000 against DKK 104,108,000 a year ago. Profit before tax was DKK 55,069,000 compared with DKK 78,366,000 for the same period last year. Net profit for the period was DKK 37,564,000 compared with DKK 53,465,000 for the same period last year. Return on equity before tax was 6.2% compared with 9.0% for the same period last year. Return on equity after tax was 4.2% compared with 6.1% for the same period last year. Income for the period per share after tax was DKK 20.9 compared with DKK 29.7 per share for the same period last year. Book value per share was DKK 488 as on June 30, 2015 against DKK 486 as on June 30, 2014. The background to the decrease of net interest income is the extremely low level of interest rates, a lower lending volume compared to the first half of 2014, and the negative interest on the bank's certificates of deposit at Danmarks Nationalbank. For the second quarter, net interest income amounted to DKK 50,773,000 in second quarter of 2015, which was by and large unchanged compared to first quarter of 2015. The very low level of interest rates and the negative interest at Danmarks Nationalbank continued to exert pressure on net interest income. In second quarter of 2015, there was a small decrease in fee income by DKK 1,559,000 to DKK 19,771,000 compared to first quarter of 2015. The bank continues to expects a moderate increase in lending during the year, guarantees at a high level, and an unchanged to slightly falling interest rate margin. There is still considerable uncertainty related to the extremely low level of interest rates, including for how much longer the rate of interest on certificates of deposit at Danmarks Nationalbank will be negative. On this basis the Bank expects a slight decrease in overall income compared to 2014. For the year of 2015, A result before value adjustments and write-downs at the level of DKK 125 million to DKK 145 million, compared to DKK 148 million in 2014, is still expected. Impairment of loans for the quarter was DKK 4,558,000 against DKK 4,807,000 a year ago.

The Bank of Greenland Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015

The Bank of Greenland reported unaudited earnings results for the first quarter ended March 31, 2015. For the period, the bank’s net interest income was DKK 50,555,000 against DKK 50,015,000 a year ago. Net interest and fees income was DKK 71,698,000 against DKK 68,542,000 a year ago. Profit before tax was DKK 25,234,000 against DKK 34,639,000 a year ago. The period's profit was DKK 17,212,000 against DKK 23,631,000 a year ago. Book value per share as on March 31, 2015 was DKK 478.

The BANK of Greenland Approves Dividend for the Year 2014

The BANK of Greenland held its ordinary general meeting on March 25, 2015. The general meeting approved the Board of Directors' proposal to pay a dividend of 55%.

 

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GRLA

Industry Average

Valuation GRLA Industry Range
Price/Earnings 14.9x
Price/Sales 4.3x
Price/Book 1.3x
Price/Cash Flow 14.9x
TEV/Sales 2.4x
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