Ringkjøbing Landbobank’s annual report for 2024

Ringkjoebing Landbobank A/S

05/02/2025 06:07

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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

Attachments
*     Front page for the company announcement 2024
(https://ml-eu.globenewswire.com/Resource/Download/acf8ae35-2886-45d9-ae6d-98d8e10fad01)
  
*     Annual report 2024
(https://ml-eu.globenewswire.com/Resource/Download/5680135b-e9ea-4b07-98e4-8e53c55d4afe)
  
*     RILBA-2024-12-31-en
(https://ml-eu.globenewswire.com/Resource/Download/af967fe7-9195-4ba9-880b-24972d25e4f4)