Ringkjøbing Landbobank’s annual report for 2024

Core Insights - The bank reported a net profit of DKK 2,301 million for 2024, marking a 7% increase from 2023, which aligns with the top of the announced expectations for the year [1][4] - The return on equity for the year is 21%, and earnings per share (EPS) increased by 12% [4] - Core income rose by 6% to DKK 4,068 million, while total expenses increased by 8%, resulting in a cost/income ratio of 25.7% [4] Financial Performance - Total core income for 2024 was DKK 4,068 million, up from DKK 3,828 million in 2023 [2] - Core earnings before impairment charges reached DKK 3,024 million, compared to DKK 2,865 million in the previous year [2] - Profit before tax increased to DKK 3,069 million from DKK 2,837 million in 2023 [2] Impairment and Credit Quality - The bank recorded impairment charges of DKK 3 million, indicating continued strong credit quality [4] - The result for the portfolio showed a positive change of DKK 62 million, contrasting with a loss of DKK 7 million in 2023 [2] Customer Growth and Expectations - The bank experienced a 10% growth in loans, an 8% increase in deposits, and a 9% rise in custody account holdings [4] - The bank anticipates a net profit for 2025 in the range of DKK 1.8 billion to DKK 2.2 billion [4]