Ringkjøbing Landbobank's annual report for 2024

Nasdaq Copenhagen London Stock Exchange Euronext Dublin Other stakeholders5 February 2025Ringkjøbing Landbobank's annual report for 2024 The bank's board of directors and general management today approved the annual report for 2024.For 2024, a net profit at the top of the announced expectations for the year is realized with DKK 2,301 million, corresponding to an increase of 7% compared to 2023. The bank is very satisfied with this development.Core earnings (DKK million)...
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Ringkøbing, (informazione.it - comunicati stampa - economia)

Nasdaq Copenhagen
London Stock Exchange
Euronext Dublin
Other stakeholders

5 February 2025


Ringkjøbing Landbobank's annual report for 2024

The bank's board of directors and general management today approved the annual report for 2024.

For 2024, a net profit at the top of the announced expectations for the year is realized with DKK 2,301 million, corresponding to an increase of 7% compared to 2023. The bank is very satisfied with this development.


Core earnings

(DKK million) 2024 2023 2022 2021 2020
Total core income 4,068 3,828 2,862 2,433 2,179
Total expenses and depreciation 1,044 963 891 817 788
Core earnings before impairment charges for loans 3,024 2,865 1,971 1,616 1,391
Impairment charges for loans etc. +3 -1 -2 -68 -223
Core earnings 3,027 2,864 1,969 1,548 1,168
Result for the portfolio etc. +62 -7 -69 +7 -9
Special costs 20 20 20 17 15
Profit before tax 3,069 2,837 1,880 1,538 1,144
Profit after tax 2,301 2,155 1,495 1,229 920


2024 - highlights

  • Net profit for the year increases by 7% to DKK 2,301 million, equivalent to a 21% return on equity
  • Earnings per share (EPS) increase by 12%
  • Core income increases by 6% to DKK 4,068 million
  • Costs increase by 8%, and the cost/income ratio is 25.7%
  • Continued strong credit quality means that impairment charges of DKK 3 million were carried to income
  • Highly satisfactory increase in customer numbers and growth of 10% in loans, 8% in deposits and 9% in custody account holdings
  • The best-ranking image in several independent surveys is promising for a continued increase in new customers
  • Expectations for net profit for 2025 in the range DKK 1.8 - 2.2 billion


Yours faithfully

Ringkjøbing Landbobank

John Fisker
CEO

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