Q4 2024 Islandsbanki hf Earnings Call Transcript
Key Points
- Islandsbanki hf (OISE:ISB) achieved a return on equity of 10.9% for the year, surpassing their target.
- The bank maintained a strong balance sheet with a capital ratio of 23.2% and a CET1 ratio of 20.1%.
- Sustainable lending increased by 23% in 2024, aligning with the bank's focus on sustainability.
- The bank reported a profit of ISK24.2 billion for the year, driven by subsiding inflation and reducing policy rates.
- Islandsbanki hf (OISE:ISB) saw significant growth in deposits, particularly from individuals and SMEs, enhancing its stable funding base.
- The planned sale of the government's remaining shares in the bank was delayed due to political changes.
- Net interest income faced volatility due to fluctuating inflation rates and interest rate environment.
- The bank's cost-to-income ratio was impacted by reclassification of costs, though it remained within targets.
- There was a decrease in corporate investment banking deposits, indicating volatility in this segment.
- The bank's growth in car leasing loans was lower due to a reduction in the sale of electric cars.
Good morning, and welcome to Ãslandsbanki for the fourth quarter and full year 2024. I'm Bjarney Anna with Investor Relations, and I will be moderating today's session. I'm joined today by our CEO, Jon Gudni Omarsson; and CFO, Ellert Hlodversson. Before I hand the session over to them, I wanted to mention that as per usual, we will have a Q&A session following the presentation (Operator Instructions)
Now I hand the floor over to you, Jon Gudni.
Thank you, Gudni. As we go into the numbers for the annual accounts the fourth quarter of 2024. It's interesting to note that now 1/4 of the 21st century has already passed. I remember in the '80s and the '90s, looking towards the 21st century and feeling that it was a very long, very far in the distance.
But like I said, now already 1/4 of the century a lot of technology changes, obviously, over the past 25 years industrial revolution, we are bound to see even more
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