Ringkjøbing Landbobank’s quarterly report for the first three quarters of 2024

Ringkjoebing Landbobank A/S

23/10/2024 06:37

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Nasdaq Copenhagen
Euronext Dublin
London Stock Exchange
Other stakeholders

23 October 2024



Ringkjøbing Landbobank’s quarterly report for the first three quarters of
2024

The bank’s board of directors and general management have today approved the
quarterly report for the first three quarters of 2024.

With net profit of DKK 1.77 billion for the first three quarters of 2024, the
bank specifies the expected results for net profit for 2024 to the top of the
DKK 2,000-2,350 million range.



Core earnings

 (DKK million)                            Q1-Q3 2024  Q1-Q3 2023  2023   2022   2021   2020   
 Total core income                        3,067       2,785       3,828  2,862  2,433  2,179  
 Total expenses and depreciation          761         708         963    891    817    788    
 Core earnings before impairment charges  2,306       2,077       2,865  1,971  1,616  1,391  
 Impairment charges for loans etc.        +2          -1          -1     -2     -68    -223   
 Core earnings                            2,308       2,076       2,864  1,969  1,548  1,168  
 Result for the portfolio etc.            +56         -36         -7     -69    +7     -9     
 Amortisation etc. on intangible assets   15          15          20     20     17     15     
 Tax                                      579         484         682    385    309    224    
 Net profit                               1,770       1,541       2,155  1,495  1,229  920    



Highlights of the first three quarters of 2024
* The net profit is DKK 1,770 million, equivalent to a 22% p.a. return on
equity
* Earnings per share – measured on net profit – increase by 20% to DKK 69
* Core income increases by 10% to DKK 3,067 million
* Costs increase by 8%, and the cost/income ratio decreases to 24.8%
* In the first three quarters of 2024, the bank carried impairment charges of
DKK 2 million to income based on strong credit quality while, in the first
nine months of 2024, the total management estimates increased by DKK 52
million 
* Highly satisfactory increase in customer numbers and growth of 9% in loans,
4% in deposits and 14% in funds in custody accounts
* The bank’s brands remain highly ranked in the annual Voxmeter Image survey
where the Ringkjøbing Landbobank brand takes first place.
* The expected result for 2024 is specified to be at the upper end of the
upwardly adjusted DKK 2,000-2,350 million range


Yours sincerely

Ringkjøbing Landbobank

John Fisker
CEO

Attachments
*     RILBA-2024-09-30-en
(https://ml-eu.globenewswire.com/Resource/Download/5726ab22-a436-4a12-b412-704df6bd5c37)
  
*     Quarterly report Q3 2024 EN
(https://ml-eu.globenewswire.com/Resource/Download/25392533-cfd9-451b-a3d5-22d5a678c6e3)
  
*     Front page - Q3 2024 EN
(https://ml-eu.globenewswire.com/Resource/Download/ff75e892-853a-4514-b3fd-08c99a8e743f)