Møns Bank concluded 2024 with a strong result, providing a solid foundation for future growth. The bank delivered a pre-tax profit of DKK 107 million, which is slightly lower than the extraordinary DKK 114 million in 2023, but better than expected.
- We are very satisfied with the pre-tax result and core operations. The solid result is mainly due to the positive effects of the higher interest rate level, says bank director Per Sjørup Christiansen in a press release.
The bank's customers have generally fared well throughout the year despite economic uncertainty, which has kept the need for loan write-downs at a low level. At the same time, adjustments in the value of securities and a healthy interest margin have contributed to the result.
The bank's costs increased by 10.7 percent to DKK 163 million, partly due to more employees in connection with the bank's growth strategy and collectively agreed wage increases in the financial sector.
Strategy yields results
Chairman Peter Ole Sørensen is satisfied with the implementation of the bank's three-year growth strategy, where an important part is the focus on small and medium-sized business customers.
- The first year with the strategy has shown that we have chosen the right path, he says.
The board proposes a dividend of 12 million DKK, equivalent to 6 DKK per share.
Møns Bank expects a pre-tax result in 2025 of between 40 and 70 million DKK, but emphasizes that the development is marked by great uncertainty in the macroeconomic and geopolitical situation.
