Ringkjøbing Landbobank (RILBA) Q4 2024 earnings summary

Executive summary

• Net profit for 2024 rose 7% to DKK 2,301 million, with a 21% return on equity and 12% EPS growth.

• Loans increased 10%, deposits 8%, and customer assets in custody accounts 9% year-over-year.

• Cost/income ratio remained low at 25.7%, reflecting strong operational efficiency.

• Shareholder return was 22% in 2024, with a proposed dividend increase to DKK 11 per share and a DKK 500 million share buyback.

• First CSRD-compliant sustainability statement published, highlighting ESG progress.

Financial highlights

• Core income up 6% to DKK 4,068 million; expenses up 8% to DKK 1,044 million.

• Net interest income increased 3% to DKK 2,702 million; fee, commission, and FX income up 10% to DKK 1,114 million.

• Core earnings rose 6% to DKK 3,027 million; profit before tax DKK 3,069 million.

• Impairment charges for loans were a net income of DKK 3 million, reflecting strong credit quality.

• Equity increased to DKK 11,034 million; balance sheet total DKK 78,633 million.

Outlook and guidance

• Net profit for 2025 expected in the range of DKK 1,800–2,200 million.

• Forecasts for 2025: continued loan growth, lower net interest income due to expected rate cuts, higher asset management income, 4% increase in expenses, and a small rise in impairment charges.

• Ongoing macroeconomic and geopolitical uncertainty may impact results.