Ringkjobing Landbobank

Latest Results (28.01.2026):

Ringkjobing Landbobank — Q4 2024 (reporting full-year 2024): The bank delivered a strong 2024 with net profit DKK 2,301m (up 7% y/y), a 21% return on equity and EPS up ~12% (DKK 90.3 per share). Core income rose 6% to DKK 4,068m while costs increased 8% to DKK 1,044m, leaving a low cost/income ratio of 25.7%. Lending and deposit volumes grew materially (loans +9.7% to DKK 55.8bn; deposits +7.6% to DKK 56.7bn) and impairment charges were minimal (net +DKK 3m). The board proposes DKK 11 dividend per share and continuation of the DKK 500m buyback; guidance for 2025 net profit is DKK 1.8–2.2bn.

Profit and returns

Net profit for 2024: DKK 2,301m (+7% y/y). Return on equity ~21%. Core earnings per share (core EPS) and net EPS improved (core EPS DKK 118.8; net EPS DKK 90.3). Profit before tax DKK 3,069m.

Revenue and margins

Core income DKK 4,068m (+6%). Net interest income ~DKK 2.70bn; fee/commission and custody-related income supported growth (custody/assets under custody +9%). Lending margin under pressure from competition and falling rates, but volume growth offset some margin squeeze.

Costs and efficiency

Total expenses DKK 1,044m (+8%), reflecting higher staff and IT costs; cost/income ratio stayed very low at ~25.7%, underscoring operating leverage and efficiency.

Credit quality and impairments

Impairment charges were negligible — net +DKK 3m for 2024 (reversal). Stage 3 impairments fell (from DKK 873m end-2023 to DKK 734m end-2024). Management reports broadly high loan quality, limited net losses and close supervisory reviews with no material corrective actions required.

Balance sheet and liquidity

Total assets DKK ~78.6bn. Loans DKK 55.8bn (+9.7% y/y); deposits including pooled schemes DKK 56.7bn (+7.6% y/y). Bank meets supervisory liquidity/capital benchmarks (Supervisory Diamond) and reports NSFR ~119%; liquidity coverage requirements met.

Capital, shareholder returns and market

CET1 16.6% (down from 18.9% in 2023); total capital ratio 19.8%; MREL ~28.8%. Board proposes dividend DKK 11/share and continuation of DKK 500m share buyback. Share price performance in 2024 gave ~22% total return including dividend.

Outlook for 2025

Management expects 2025 net profit in the range DKK 1.8–2.2bn. They anticipate lower net interest income (rate-driven) but continued growth in other income, modestly higher costs (~+4% guided) and a small rise in impairments.

ESG, reputation and other notes

First-year CSRD sustainability statement included in the 2024 report. The bank continued to score highly in independent image/reputation surveys (Bank of the Year among major banks; strong employee wellbeing). No material post-year events affecting the 2024 figures were disclosed.