Danske Bank reported record full-year 2024 net profit of DKK 23.6 billion, an 11% increase compared with 2023. Return on equity improved to 13.4% from 12.7% in the prior year. The results were set out in a company announcement published on the bank's website, with management describing 2024 as a satisfactory year that delivered the best result in the bank's recent history.
INCOME AND COSTS
Total income for the full year grew 8% year on year to DKK 56.4 billion. The cost-to-income ratio improved to 46%.
DIVIDEND AND BUYBACK
Danske Bank's board proposed a dividend of DKK 14.70 per share for the second half of 2024, comprising an ordinary dividend of DKK 9.35 and an extraordinary dividend of DKK 5.35; with the DKK 7.50 interim dividend and a DKK 6.50 special dividend after the transfer of its Norwegian personal customer business, total distributions for 2024 amount to DKK 28.70 per share.
The proposed dividend was accompanied by the announcement of a new DKK 5 billion share buyback programme. Management guided for 2025 net profit of DKK 21–23 billion, below the 2024 level, with lower interest rates expected to weigh on net interest income.
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