Ringkjøbing Landbobank reports strong growth with net profit increase and raised profit expectations

From GlobeNewswire: 2024-10-23 01:37:00

Ringkjøbing Landbobank’s quarterly report for the 3rd quarter of 2024 has been approved, with a net profit of 1.77 billion kroner for the 1st-3rd quarter. The bank adjusts its 2024 net profit expectation to the top end of 2.000-2.350 billion kroner range. Basis earnings total 3.067 million kroner for the same period.

Key highlights from the quarterly report include a net profit of 1.770 million kroner, representing a 22% annual return on equity. Earnings per share based on net profit rise by 20% to 69 kroner. Basis earnings increase by 10% to 3.067 million kroner. Operating costs rise by 8% with a decrease in cost ratio to 24.8%.

In the 1st-3rd quarter of 2024, Ringkjøbing Landbobank records a strong customer base growth with a 9% increase in loans, 4% in deposits, and 14% in portfolio assets. The bank’s brand maintains a top position in the annual image survey by Voxmeter. The 2024 profit expectations are adjusted to the upper end of the revised 2.000-2.350 billion kroner range. CEO John Fisker signs off the report.



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