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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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