Accounts

CEO John Fisker presents the annual report for 2023:

Annual report for 2023

War, interest rate increases, and a slowdown of the economy were issues that marked 2023. However, the bank’s customers have adapted in the most distinguished way, so the credit quality in the lending portfolio remains high. The bank’s growth combined with a higher interest rate level has thus ensured a strong net result of DKK 2,155 million, which ensures that we can continue to help our customers and continue growth.

Core earnings

 
2023 - highlights

• Net profit for the year is DKK 2,155 million, equivalent to a 22% return on equity
• Earnings per share (EPS) - measured on core earnings and net profit for the year - increase by 50% and 48% respectively
• Core income increases by 34% to DKK 3,828 million
• Costs increase by 8%, and the cost/income ratio decreases to 25.2%
• Strong credit quality results in impairment charges of only DKK 1 million and coincides with an increase in management estimates to DKK 950 million
• Highly satisfactory increase in new customers and growth of 5% in loans, 8% in deposits and 11% in custody account holdings
• The pay-out ratio increases from 65 to 84, achieved through dividend of DKK 10 and doubling of the share buyback programme to DKK 1,525 million
• Positive expectations for 2024 with expected net profit for the year in the range DKK 1.8-2.2 billion.

Annual report 2023 (pdf)     Extract of annual report (pdf)     Annual report (xhtml)

Accounts

Here are the accounts of Ringkjøbing Landbobank

See all annual reports here