Ringkjobing Landbobank

Latest Results (15.12.2025):

Ringkjøbing Landbobank — Q4 2024 (and full-year 2024) summary: In Q4 2024 the bank reported a quarterly net profit of DKK 531 million and quarterly core earnings of DKK 719 million; for the full year 2024 net profit rose 7% to DKK 2,301 million (return on equity 21%), core earnings were DKK 3,027 million and core earnings per share DKK 118.8. The bank delivered strong business growth (loans +9.7% to DKK 55.8bn, deposits +7.6% to DKK 56.7bn), a low cost/income ratio (25.7%), minimal impairment charges for the year (net +DKK 3m) and proposed a higher dividend (DKK 11 per share) alongside a continued DKK 500m buyback; guidance for 2025 net profit is DKK 1.8–2.2bn.

Profitability (Q4 2024 / FY2024)

Q4 net profit was DKK 531m; full-year 2024 net profit was DKK 2,301m (up 7% y/y) and EPS rose ~12% y/y. Return on average equity was ~21% for 2024, reflecting strong underlying profitability.

Income and costs

Total core income grew 6% to DKK 4,068m in 2024. Net interest income was DKK ~2.70bn (up modestly y/y) but under margin pressure; fee and commission and asset-management related income increased. Total operating costs rose 8% to DKK 1,044m, leaving a low cost/income ratio at 25.7%.

Business growth — loans, deposits and assets under custody

Loans increased 9.7% to DKK 55,837m and deposits (incl. pooled schemes) rose 7.6% to DKK 56,652m. Funds in custody and related assets increased (custody holdings ~DKK 93.0bn), supporting non‑interest income.

Credit quality and impairments

Impairment charges were negligible for 2024 (net +DKK 3m); the bank reports continued high credit quality, limited net losses and a downward shift in stage‑3 provisions (from DKK 873m end‑2023 to DKK 734m end‑2024). Management notes some pressure in parts of the region and certain business segments but no material deterioration.

Capital and liquidity

Common equity Tier 1 ratio was 16.6% and total capital ratio 19.8% at year‑end 2024 (MREL ~28.8%). Liquidity coverage and stable funding: reported LCR ~17% and NSFR 119% on 31 Dec 2024 (bank states both regulatory thresholds were met by a comfortable margin overall).

Shareholder returns & market performance

The share price rose to DKK 1,204 at 31 Dec 2024 (from DKK 991.5), delivering a total return of ~22% in 2024 including dividend. The board proposes increasing the dividend to DKK 11 per share and continuing the DKK 500m share buyback programme.

Outlook for 2025

Management expects 2025 net profit in the range DKK 1.8–2.2bn. They expect lower net interest income due to further rate reductions, modestly higher other income, about a 4% increase in expenses and a small increase in impairment charges versus 2024.